Replication data for: Technological Diversification

Economies at early stages of development are frequently shaken by large changes in growth rates, whereas advanced economies tend to experience relatively stable growth rates. To explain this pattern, we propose a model of technological diversification. Production makes use of input-varieties that are subject to imperfectly correlated shocks. Endogenous variety adoption by firms raises average productivity and provides diversification benefits against variety-specific shocks. Firm-level and aggregate volatility thus decline as a by-product of the development process. We quantitatively assess the model's predictions and find that it can generate patterns of volatility and development consistent with the data. (JEL D21, D24, E23, O33, O47)

处于发展早期的经济体往往频繁遭遇增长率大幅波动的冲击，而发达经济体的增长率则通常保持相对稳定。为解释这一典型事实，本文提出了一个技术多元化模型。生产活动依赖于各类投入品，而这些投入品会受到不完全相关的各类冲击。企业内生性地增加投入品种类的采纳，不仅能够提升平均生产率，还能对冲特定投入品冲击带来的风险，获得多元化收益。因此，企业层面与整体经济的波动性会作为发展进程的附带效应逐步降低。本文对该模型的预测结果进行了量化评估，发现其能够生成与实际数据相符的波动性与经济发展模式。(JEL D21, D24, E23, O33, O47)