Article | NBER Macroeconomics Annual | 2011

Technology Diffusion and Postwar Growth

by Diego A. Comin and Bart Hobijn

Abstract

In the aftermath of World War II, the world's economies exhibited very different rates of economic recovery. We provide evidence that those countries that caught up the most with the U.S. in the postwar period are those that saw an acceleration in the speed of adopting new technologies. This acceleration is correlated with the incidence of U.S. economic aid and technical assistance in the same period. We interpret this as supportive of the interpretation that technology transfers from the U.S. to Western European countries and Japan were an important factor in driving growth in these recipient countries during the postwar decades.

Keywords: Hardware; Country; Business Cycles; Globalized Economies and Regions; Economic Growth; Welfare or Wellbeing; War; Technology Industry; United States; Japan; Europe;

Citation:

Comin, Diego A., and Bart Hobijn. "Technology Diffusion and Postwar Growth." NBER Macroeconomics Annual 25 (2011): 209–259.