Exploring Structural Convergence: Dynamics of Technology Diversification among World Regions
摘要
Technological diversification is an essential feature of growing economies. Diversification drives productivity gains and long-term development by expanding an economy's knowledge base and supporting structural transformation into higher value-added activities. The paper explores patterns of technological diversification among world regions using data on patent classes. Its novelty is that it applies the methodology from income convergence literature (sigma-, beta-, and follower-leader convergence) to study the evolution of technology diversification, measured by the number of technologies (IPC subclasses) in which countries file patent applications. The analysis explores diversification patterns during the 1990–2016 period across two subperiods and different income- and region-based groupings. Results show that from 1990 to 2016, the world has become more homogeneous in terms of the extent of technology diversification, and diversity has decreased. However, there is no evidence of an accelerating pace of technology diversification. The intensity (pace) of structural convergence has been strong only in high-income economies. Finally, our results show that the structural convergence, both its extent, pace and pairwise, has stalled globally after 2008.