If new technologies are not developed, the catch-up effect tends to slow over time.

Question

Quizplus · Accepted Answer

Without new technologies being developed, countries relying solely on the catch-up effect may eventually reach a point where they are unable to continue closing the gap with more technologically advanced countries. This is because technological advancements allow for increased productivity and efficiency, which can lead to further economic growth and development.

If New Technologies Are Not Developed, the Catch-Up Effect Tends