No / Conventional models of economic behavior have failed to account for a number of observed empirical regularities in macroeconomics and international economics. This may be due to preference specifications in conventional models. In this paper, we consider preferences with the ¿spirit of capitalism¿ (the desire to accumulate wealth as a way of acquiring status). We analyze a number of potential effects of international catching-up and the spirit of capitalism on savings, growth, portfolio allocation and asset pricing. Moreover, we obtain a multi-factor Capital Asset Pricing Model (CAPM). Our results show that status concerns have non-trivial effects on savings, growth, portfolio allocation, asset prices and the foreign exchange risk premium.

L’objet de cette thèse est d’étudier la stratégie d’industrialisation du Vietnam, d’en déterminer les points communs et les spécificités, et d’en déduire des propositions normatives. Le premier chapitre met les stratégies d’industrialisation des pays asiatiques dans la perspective générale des modèles de rattrapage technologique, en insistant en particulier sur les cas du Japon et de la Corée,qui ont combiné une forte ouverture internationale, et un interventionnisme étatique important. Le deuxième chapitre présente la situation actuelle et l’évolution récente de l’économie vietnamienne. Il discute de son insertion dans le schéma de division du travail qui s’institue en Asie de l’Est, à partir du changement de la structure de son commerce extérieur. Les faiblesses de la politique industrielle vietnamienne et sa position défavorable dans le processus de rattrapage y sont aussi discutées. Le troisième chapitre porte sur les facteurs de compétitivité de l’économie vietnamienne, à partir d’un examen des indicateurs traditionnels de mesure de la compétitivité, et d’une enquête menée auprès d’entreprises vietnamiennes. Le quatrième chapitre évalue l’impact des Investissement directs étrangers (IDE) sur l’économie vietnamienne, en utilisant les statistiques disponibles et les résultats d’une enquête menée sur des entreprises ayant accueilli des IDE. Enfin le dernier chapitre discute de la possibilité de mise en œuvre d’une stratégie alternative de rattrapage, qui reposerait sur une participation à un modèle de production intégré, et non modulaire, et qui aboutirait à un meilleur partage des compétences et tâches avec un ou des pays à niveau technologique plus élevé. / The theme of this thesis is to study the strategy of industrialization of Vietnam, to determine its common points and specificities and to deduct normative propositions. The first chapter puts the strategies of industrialization of the Asian countries in the general prospect of technological catching up, by insisting on the cases of Japan and Korea in particular, which realize a mix of a international openness and an important state interventionism. The second chapter presents the current situation and the recent evolution of the Vietnamese economy. It discusses Vietnam’s insertion in the network ofEast Asian division of labour by studying the change in its foreign trade structure. The weaknesses of the Vietnamese industrial policy and its unfavourable position in the process of catching up are also controversial. The third chapter studies the factors of competitiveness of the Vietnamese economy from an examination of the traditional indicators of measure of the competitiveness and a survey about Vietnamese companies. The fourth chapter estimates the impact of the foreign direct investment (FDI)on the Vietnamese economy by using the available statistics and the results of a survey on companies having welcomed the FDI. Finally the last chapter discusses the possibility of implementation of analternative strategy of catching up, which would base on a participation in an integrated model of production, not modular and would end in a better division of the skills and the tasks with one orseveral countries at higher technological level.

No presente trabalho faz-se uma análise teórica sobre o financiamento da inovação tecnológica com ênfase para os países em desenvolvimento, ou em processo de catching up, com aplicação para a economia brasileira. Sua importância resulta da necessidade de se entender o papel que as inovações passaram a ter enquanto fator capaz de estreitar as diferenças existentes entre os países avançados e em desenvolvimento. Objetiva-se demonstrar que nesses países a dinâmica e o processo inovativo caracterizam-se por estruturar-se predominantemente sobre a difusão, absorção e uso de tecnologias, com implicações diferenciadas sobre o seu financiamento, e que, nesse contexto, o sistema financeiro e os mercados de capitais ganham destaques enquanto instituições integrantes do sistema nacional de inovação capazes de afetar as condições de exequibilidade do financiamento (finance) e de consolidação financeira das dívidas (funding) das empresas inversoras e/ou inovadoras. Para alcançar esses objetivos realiza-se uma incursão sobre as contribuições teóricas das abordagens pós-keynesianas e neoschumpeterianas com vistas a ressaltar os elementos que possibilitam entender a dinâmica inovativa e o papel do sistema financeiro em financiar as atividades inovativas das empresas desses países. O comportamento da firma bancária é analisado destacando suas implicações sobre o financiamento da inovação Faz-se ainda uma análise sobre as conexões entre crédito, ciclo econômico e financiamento e busca-se estabelecer as relações entre financiamento e processo de consolidação financeira das dívidas das empresas alavancadas. Analisa-se também o financiamento da inovação tendo em vistas as idiossincrasias em termos da dinâmica e do processo inovativo nos países em desenvolvimento ou em processo de catching up. Finalmente, a partir dos dados da PINTEC/IBGE, faz-se uma investigação sobre as relações entre a dinâmica e o processo inovativo das empresas brasileiras e o papel do sistema financeiro e dos mercados de capitais nacionais no seu financiamento. Conclui-se que nos país em desenvolvimento o sistema financeiro e os mercados de capitais desempenham papel diferenciado no financiamento da inovação tecnológica, dadas as especificidades concernentes ao risco e à incerteza que caracterizam seu processo inovativo, e que no caso brasileiro o Estado ocupa um espaço no financiamento das atividades inovativas das empresas brasileiras que poderia ser razoavelmente desempenhado pelo sistema financeiro nacional. / This work presents a theoretical analysis on the financing of technological innovation with emphasis on developing countries, or in the process of catching up, with application to the Brazilian economy. Its importance stems from the need to understand the role that innovations have been given as a factor able to narrow the differences between the advanced and developing countries. The goal is to show that in these countries the dynamics and the innovation process is characterized by structuring predominantly on the diffusion, absorption and use of technologies, with different implications for their financing, and in that context, the financial system and capital markets are highlighted as institutions of the national innovation system that may affect the funding feasibility conditions (finance) and financial consolidation of debt (funding) of inverting companies and / or innovative companies. To achieve these objectives a raid on the theoretical contributions of post-Keynesian and neo-Schumpeterian approaches was carried out in order to highlight the elements that make it possible to understand the innovative dynamics and the role of the financial system to finance the innovative activities of companies in these countries. The banking firm's behavior is analyzed contrasting its implications on the financing of innovation. It is further an analysis of the connections between credit and economic cycle and funding and seeks to establish the relationship between financing and financial consolidation of the debts of leveraged companies. It also looks up the financing of innovation with a view of idiosyncrasies in terms of dynamic and innovative process in developing countries, or catching up process Finally, from the PINTEC / IBGE data, an investigation is made on the relationship between the dynamics and the innovation process of Brazilian companies and the role of the financial system and of national capital markets in its funding. It is concluded that in developing countries the financial system and capital markets play different role in the financing of technological innovation, given the specificities pertaining to risk and uncertainty that characterize its innovative process, and that in the Brazilian case the State occupies a space the financing of innovative activities of Brazilian companies that could reasonably be played by the national financial system.

No presente trabalho faz-se uma análise teórica sobre o financiamento da inovação tecnológica com ênfase para os países em desenvolvimento, ou em processo de catching up, com aplicação para a economia brasileira. Sua importância resulta da necessidade de se entender o papel que as inovações passaram a ter enquanto fator capaz de estreitar as diferenças existentes entre os países avançados e em desenvolvimento. Objetiva-se demonstrar que nesses países a dinâmica e o processo inovativo caracterizam-se por estruturar-se predominantemente sobre a difusão, absorção e uso de tecnologias, com implicações diferenciadas sobre o seu financiamento, e que, nesse contexto, o sistema financeiro e os mercados de capitais ganham destaques enquanto instituições integrantes do sistema nacional de inovação capazes de afetar as condições de exequibilidade do financiamento (finance) e de consolidação financeira das dívidas (funding) das empresas inversoras e/ou inovadoras. Para alcançar esses objetivos realiza-se uma incursão sobre as contribuições teóricas das abordagens pós-keynesianas e neoschumpeterianas com vistas a ressaltar os elementos que possibilitam entender a dinâmica inovativa e o papel do sistema financeiro em financiar as atividades inovativas das empresas desses países. O comportamento da firma bancária é analisado destacando suas implicações sobre o financiamento da inovação Faz-se ainda uma análise sobre as conexões entre crédito, ciclo econômico e financiamento e busca-se estabelecer as relações entre financiamento e processo de consolidação financeira das dívidas das empresas alavancadas. Analisa-se também o financiamento da inovação tendo em vistas as idiossincrasias em termos da dinâmica e do processo inovativo nos países em desenvolvimento ou em processo de catching up. Finalmente, a partir dos dados da PINTEC/IBGE, faz-se uma investigação sobre as relações entre a dinâmica e o processo inovativo das empresas brasileiras e o papel do sistema financeiro e dos mercados de capitais nacionais no seu financiamento. Conclui-se que nos país em desenvolvimento o sistema financeiro e os mercados de capitais desempenham papel diferenciado no financiamento da inovação tecnológica, dadas as especificidades concernentes ao risco e à incerteza que caracterizam seu processo inovativo, e que no caso brasileiro o Estado ocupa um espaço no financiamento das atividades inovativas das empresas brasileiras que poderia ser razoavelmente desempenhado pelo sistema financeiro nacional. / This work presents a theoretical analysis on the financing of technological innovation with emphasis on developing countries, or in the process of catching up, with application to the Brazilian economy. Its importance stems from the need to understand the role that innovations have been given as a factor able to narrow the differences between the advanced and developing countries. The goal is to show that in these countries the dynamics and the innovation process is characterized by structuring predominantly on the diffusion, absorption and use of technologies, with different implications for their financing, and in that context, the financial system and capital markets are highlighted as institutions of the national innovation system that may affect the funding feasibility conditions (finance) and financial consolidation of debt (funding) of inverting companies and / or innovative companies. To achieve these objectives a raid on the theoretical contributions of post-Keynesian and neo-Schumpeterian approaches was carried out in order to highlight the elements that make it possible to understand the innovative dynamics and the role of the financial system to finance the innovative activities of companies in these countries. The banking firm's behavior is analyzed contrasting its implications on the financing of innovation. It is further an analysis of the connections between credit and economic cycle and funding and seeks to establish the relationship between financing and financial consolidation of the debts of leveraged companies. It also looks up the financing of innovation with a view of idiosyncrasies in terms of dynamic and innovative process in developing countries, or catching up process Finally, from the PINTEC / IBGE data, an investigation is made on the relationship between the dynamics and the innovation process of Brazilian companies and the role of the financial system and of national capital markets in its funding. It is concluded that in developing countries the financial system and capital markets play different role in the financing of technological innovation, given the specificities pertaining to risk and uncertainty that characterize its innovative process, and that in the Brazilian case the State occupies a space the financing of innovative activities of Brazilian companies that could reasonably be played by the national financial system.

No presente trabalho faz-se uma análise teórica sobre o financiamento da inovação tecnológica com ênfase para os países em desenvolvimento, ou em processo de catching up, com aplicação para a economia brasileira. Sua importância resulta da necessidade de se entender o papel que as inovações passaram a ter enquanto fator capaz de estreitar as diferenças existentes entre os países avançados e em desenvolvimento. Objetiva-se demonstrar que nesses países a dinâmica e o processo inovativo caracterizam-se por estruturar-se predominantemente sobre a difusão, absorção e uso de tecnologias, com implicações diferenciadas sobre o seu financiamento, e que, nesse contexto, o sistema financeiro e os mercados de capitais ganham destaques enquanto instituições integrantes do sistema nacional de inovação capazes de afetar as condições de exequibilidade do financiamento (finance) e de consolidação financeira das dívidas (funding) das empresas inversoras e/ou inovadoras. Para alcançar esses objetivos realiza-se uma incursão sobre as contribuições teóricas das abordagens pós-keynesianas e neoschumpeterianas com vistas a ressaltar os elementos que possibilitam entender a dinâmica inovativa e o papel do sistema financeiro em financiar as atividades inovativas das empresas desses países. O comportamento da firma bancária é analisado destacando suas implicações sobre o financiamento da inovação Faz-se ainda uma análise sobre as conexões entre crédito, ciclo econômico e financiamento e busca-se estabelecer as relações entre financiamento e processo de consolidação financeira das dívidas das empresas alavancadas. Analisa-se também o financiamento da inovação tendo em vistas as idiossincrasias em termos da dinâmica e do processo inovativo nos países em desenvolvimento ou em processo de catching up. Finalmente, a partir dos dados da PINTEC/IBGE, faz-se uma investigação sobre as relações entre a dinâmica e o processo inovativo das empresas brasileiras e o papel do sistema financeiro e dos mercados de capitais nacionais no seu financiamento. Conclui-se que nos país em desenvolvimento o sistema financeiro e os mercados de capitais desempenham papel diferenciado no financiamento da inovação tecnológica, dadas as especificidades concernentes ao risco e à incerteza que caracterizam seu processo inovativo, e que no caso brasileiro o Estado ocupa um espaço no financiamento das atividades inovativas das empresas brasileiras que poderia ser razoavelmente desempenhado pelo sistema financeiro nacional. / This work presents a theoretical analysis on the financing of technological innovation with emphasis on developing countries, or in the process of catching up, with application to the Brazilian economy. Its importance stems from the need to understand the role that innovations have been given as a factor able to narrow the differences between the advanced and developing countries. The goal is to show that in these countries the dynamics and the innovation process is characterized by structuring predominantly on the diffusion, absorption and use of technologies, with different implications for their financing, and in that context, the financial system and capital markets are highlighted as institutions of the national innovation system that may affect the funding feasibility conditions (finance) and financial consolidation of debt (funding) of inverting companies and / or innovative companies. To achieve these objectives a raid on the theoretical contributions of post-Keynesian and neo-Schumpeterian approaches was carried out in order to highlight the elements that make it possible to understand the innovative dynamics and the role of the financial system to finance the innovative activities of companies in these countries. The banking firm's behavior is analyzed contrasting its implications on the financing of innovation. It is further an analysis of the connections between credit and economic cycle and funding and seeks to establish the relationship between financing and financial consolidation of the debts of leveraged companies. It also looks up the financing of innovation with a view of idiosyncrasies in terms of dynamic and innovative process in developing countries, or catching up process Finally, from the PINTEC / IBGE data, an investigation is made on the relationship between the dynamics and the innovation process of Brazilian companies and the role of the financial system and of national capital markets in its funding. It is concluded that in developing countries the financial system and capital markets play different role in the financing of technological innovation, given the specificities pertaining to risk and uncertainty that characterize its innovative process, and that in the Brazilian case the State occupies a space the financing of innovative activities of Brazilian companies that could reasonably be played by the national financial system.

O objetivo principal desta dissertação é analisar o processo de industrialização da economia brasileira, entre 1930 e 1980, sob uma ótica evolucionária. Ademais, se buscará analisar o catching-up que possibilitou a inserção da economia brasileira no quarto paradigma tecno-econômico, entre 1956-1980. E o subsequente falling-behind dessa economia, que entravou a sua entrada no paradigma tecno-econômico da tecnologia da informação. Como objetivos específicos emerge, em primeiro lugar, a necessidade de se descrever os aspectos tecnológicos, econômicos e institucionais desses dois paradigmas. Em segundo lugar se demonstrará de que maneira o Processo de Substituição de Importações foi fundamental para a inserção da economia brasileira no paradigma da produção em massa. E em terceiro lugar, se demonstrará que o legado institucional dessa mesma estratégia de desenvolvimento veio a ser um obstáculo à inserção da economia brasileira no quinto paradigma tecno-econômico. Destarte, a hipótese assumida é de que a dificuldade enfrentada pelo Brasil para assimilar os fatores-chave derivados da quinta revolução tecnológica advém da precária estrutura institucional construída ao longo da industrialização via substituição de importações. A passividade tecnológica e fragilidade institucional desse modelo de desenvolvimento, que não estabeleceu um nexo micro-macro, foi um obstáculo à endogenização do processo inovativo e impediu que a indústria brasileira ficasse em sintonia com a tecnologia dominante. / The main objective of this dissertation is to analyze the process of industrialization of the Brazilian economy, between 1930 and 1980 under an evolutionary perspective. Moreover, it will try to analyze the catching-up which allowed the insertion of the Brazilian economy in the fourth techno-economic paradigm, from 1956 to 1980. Besides that it will investigate the subsequent falling-behind of this economy, which impeded their entry into the techno-economic paradigm of information technology. The specific objectives emerge, first, the need to describe the technological, economic and institutional features those two paradigms. Secondly it will demonstrate how the Import Substitutive Process was essential for the insertion of the Brazilian economy in the paradigm of mass production. And thirdly, it will demonstrate that the institutional legacy of that development strategy came to be an obstacle to the insertion of the Brazilian economy in the fifth techno-economic paradigm. Thus, the assumption made is that the difficulty faced by Brazil to assimilate the key factors derived from the fifth technological revolution comes from poor institutional structure built along the industrialization through import substitution. Technological passivity and institutional weakness of this model of development, which has not established a micro-macro link, was an obstacle to endogenization of the innovative process and prevented the Brazilian industry to stay in tune with the dominant technology.

O objetivo principal desta dissertação é analisar o processo de industrialização da economia brasileira, entre 1930 e 1980, sob uma ótica evolucionária. Ademais, se buscará analisar o catching-up que possibilitou a inserção da economia brasileira no quarto paradigma tecno-econômico, entre 1956-1980. E o subsequente falling-behind dessa economia, que entravou a sua entrada no paradigma tecno-econômico da tecnologia da informação. Como objetivos específicos emerge, em primeiro lugar, a necessidade de se descrever os aspectos tecnológicos, econômicos e institucionais desses dois paradigmas. Em segundo lugar se demonstrará de que maneira o Processo de Substituição de Importações foi fundamental para a inserção da economia brasileira no paradigma da produção em massa. E em terceiro lugar, se demonstrará que o legado institucional dessa mesma estratégia de desenvolvimento veio a ser um obstáculo à inserção da economia brasileira no quinto paradigma tecno-econômico. Destarte, a hipótese assumida é de que a dificuldade enfrentada pelo Brasil para assimilar os fatores-chave derivados da quinta revolução tecnológica advém da precária estrutura institucional construída ao longo da industrialização via substituição de importações. A passividade tecnológica e fragilidade institucional desse modelo de desenvolvimento, que não estabeleceu um nexo micro-macro, foi um obstáculo à endogenização do processo inovativo e impediu que a indústria brasileira ficasse em sintonia com a tecnologia dominante. / The main objective of this dissertation is to analyze the process of industrialization of the Brazilian economy, between 1930 and 1980 under an evolutionary perspective. Moreover, it will try to analyze the catching-up which allowed the insertion of the Brazilian economy in the fourth techno-economic paradigm, from 1956 to 1980. Besides that it will investigate the subsequent falling-behind of this economy, which impeded their entry into the techno-economic paradigm of information technology. The specific objectives emerge, first, the need to describe the technological, economic and institutional features those two paradigms. Secondly it will demonstrate how the Import Substitutive Process was essential for the insertion of the Brazilian economy in the paradigm of mass production. And thirdly, it will demonstrate that the institutional legacy of that development strategy came to be an obstacle to the insertion of the Brazilian economy in the fifth techno-economic paradigm. Thus, the assumption made is that the difficulty faced by Brazil to assimilate the key factors derived from the fifth technological revolution comes from poor institutional structure built along the industrialization through import substitution. Technological passivity and institutional weakness of this model of development, which has not established a micro-macro link, was an obstacle to endogenization of the innovative process and prevented the Brazilian industry to stay in tune with the dominant technology.

O objetivo principal desta dissertação é analisar o processo de industrialização da economia brasileira, entre 1930 e 1980, sob uma ótica evolucionária. Ademais, se buscará analisar o catching-up que possibilitou a inserção da economia brasileira no quarto paradigma tecno-econômico, entre 1956-1980. E o subsequente falling-behind dessa economia, que entravou a sua entrada no paradigma tecno-econômico da tecnologia da informação. Como objetivos específicos emerge, em primeiro lugar, a necessidade de se descrever os aspectos tecnológicos, econômicos e institucionais desses dois paradigmas. Em segundo lugar se demonstrará de que maneira o Processo de Substituição de Importações foi fundamental para a inserção da economia brasileira no paradigma da produção em massa. E em terceiro lugar, se demonstrará que o legado institucional dessa mesma estratégia de desenvolvimento veio a ser um obstáculo à inserção da economia brasileira no quinto paradigma tecno-econômico. Destarte, a hipótese assumida é de que a dificuldade enfrentada pelo Brasil para assimilar os fatores-chave derivados da quinta revolução tecnológica advém da precária estrutura institucional construída ao longo da industrialização via substituição de importações. A passividade tecnológica e fragilidade institucional desse modelo de desenvolvimento, que não estabeleceu um nexo micro-macro, foi um obstáculo à endogenização do processo inovativo e impediu que a indústria brasileira ficasse em sintonia com a tecnologia dominante. / The main objective of this dissertation is to analyze the process of industrialization of the Brazilian economy, between 1930 and 1980 under an evolutionary perspective. Moreover, it will try to analyze the catching-up which allowed the insertion of the Brazilian economy in the fourth techno-economic paradigm, from 1956 to 1980. Besides that it will investigate the subsequent falling-behind of this economy, which impeded their entry into the techno-economic paradigm of information technology. The specific objectives emerge, first, the need to describe the technological, economic and institutional features those two paradigms. Secondly it will demonstrate how the Import Substitutive Process was essential for the insertion of the Brazilian economy in the paradigm of mass production. And thirdly, it will demonstrate that the institutional legacy of that development strategy came to be an obstacle to the insertion of the Brazilian economy in the fifth techno-economic paradigm. Thus, the assumption made is that the difficulty faced by Brazil to assimilate the key factors derived from the fifth technological revolution comes from poor institutional structure built along the industrialization through import substitution. Technological passivity and institutional weakness of this model of development, which has not established a micro-macro link, was an obstacle to endogenization of the innovative process and prevented the Brazilian industry to stay in tune with the dominant technology.

L’objectif de cette thèse est de proposer une réponse à la question: Est-ce que les politiques de renforcement des droits de propriété intellectuelle telles que les TRIPS peuvent être bénéfiques aux pays en développement et leurs perspectives de rattrapage économique.?Pour répondre à cette question, on s’intéresse à la dynamique technologique sous-jacente au processus de rattrapage économique. Le premier chapitre propose une revisite empirique et analytique du modele de “catching-up and falling behind” de Verspagen (1991) qui se focalise sur l’étude du rôle des dynamiques d’innovation et d’imitation dans le processus de rattrapage économique. On trouve que même si la dynamique d’innovation est importante pour le rattrapage, la dynamique d’imitation se révèle nécessaire pour s’assurer que les pays en développement puissent développer leurs capacités qui leur permettront de prospérer. L’efficacité de la dynamique d’imitation est conditionnée par les caractéristiques du pays qui détermine sa capacité d’apprentissage (“Learning Capability”).Le deuxième chapitre se concentre sur la compréhension du fonctionnement des transferts de technologie entre les pays développés et les pays en développement. On s’intéresse aux mécanismes derrières les deux canaux de transferts principaux, le commerce international et les IDE, qui sont les canaux les plus étudiés dans la littérature. On déduit de ce chapitre la richesse et la complexité de ces mécanismes.Dans le troisième chapitre, on développe un modèle à base d’agents (ABM) pour représenter ces interactions Nord-Sud et leur complexité, avec une approche évolutionniste. Le modèle de base permet en particulier l’étude du mécanisme de transfert par la mobilité (locale) des travailleurs, un canal très peu étudié dans la littérature. Ceci nous permet d’étudier l’impact que les IDE peuvent avoir sur le développement et le rattrapage. On trouve que si les IDE des pays développés vers les pays en développement peuvent, sous certaines conditions, encourager les transferts de technologie et permettre ainsi le rattrapage, il y a tout de même des effets négatifs potentiels sur les industries locales, en particulier dans les pays les plus en retard.Le dernier chapitre propose une extension du modèle qui introduit les brevets et nous permet ainsi de répondre à la question principale. On observe que si les brevets permettent d’inciter les firmes du Nord à diffuser leur technologie et facilité le rattrapage, ces firmes demanderaient un e parfaite application des lois sur la propriété intellectuelle, ce qui serait trop sévère sur les firmes locales car cela bloquerait les imitations et surtout entraverait les efforts d’innovation de ces firmes, tout en procurant un bénéfice limité pour les firmes du Nord. / The objective of this thesis is to propose an answer to the question: Can intellectual property rights policies such as TRIPS be beneficial for developing countries and their catching-up process?To answer this question, we first look at the technological dynamics behind the catching-up process. The first chapter thus provides an empirical and analytical update on the catching-up and falling behind model by Verspagen (1991), which focuses on studying the role of the innovation and imitation dynamics in the catching up process. Mainly, we find that while the innovation dynamic is important for the catching-up process, the imitation dynamic is necessary to ensure that countries build solid capabilities that will enable them to prosper. The efficiency of the imitation dynamics is dependent on policy factors that make up the learning capability of firms and ensure firms succeed assimilating knowledge.The second chapter focuses on understanding the way those technological transfers from developed to developing countries can occur, we focus on studying the mechanisms behind two main channels, that is international trade and FDIs, which represent the main form of North-South interactions studied in the literature. From this chapter we conclude that there is a rich diversity of complex mechanisms.In the third chapter, we thus build an agent-based model (ABM) to represent those North-South interactions and their complexities, with an evolutionary economics approach. The model allows us to study a particular mechanism: transfers through the local labour mobility, a channel seldom discussed in the literature. This allows us to study the impact FDI may have on development and catching-up outcomes. We find that while FDI from developed countries can, under the right conditions, encourage technological transfers and thus catching up, there are potential negative effects on local industries, in particular in countries largely behind.The final chapter proposes an extension of the model that introduces patents, in order to answer the main question. We find that while patents help motivate northern firms to disclose their technology and thus facilitate development, those firms would require a perfect level of enforcement that will be too harsh on local firms, block imitations and also severely hinder the southern firms’ innovative efforts, while generating limited gains for northern firms.

Cette thèse s’intéresse au défi que représente le rattrapage des niveaux de prix pour la stabilité macroéconomique des pays en transition d’Europe centrale et orientale, dans la perspective de leur future participation à la zone euro. A cet égard, une modélisation du taux de change réel d’équilibre suggère que l’appréciation réelle liée au rattrapage économique recouvre des évolutions de prix relatifs différentes suivant les régimes de change, dont témoignent des trajectoires d’endettement extérieur contrastées. Dans les économies en changes flexibles, la hausse du taux de change nominal favorise une appréciation endogène des termes de l’échange à moyen terme, en orientant les investissements directs étrangers et la réalisation des gains de productivité vers le secteur exposé de l’économie, ce qui se traduit par une appréciation du taux de change réel d’équilibre et une amélioration des comptes extérieurs. Dans les économies en changes fixes, les effets de valorisation liés à la hausse des prix relatifs domestiques tendent à orienter les investissements vers le secteur abrité de l’économie, entraînant une érosion de la compétitivité extérieure, dont témoigne le gonflement de la dette externe. Par ailleurs, l’intégration monétaire comporte des risques spécifiques pour la stabilité macroéconomique des économies en rattrapage, dans la mesure où elle s’accompagne d’un processus marqué de convergence des conditions de financement entre Etats membres, dès lors que la perspective de l’adhésion à l’espace monétaire commun devient crédible. Un modèle dynamique à anticipations rationnelles permet de montrer que face au choc de demande lié à une telle convergence financière, l’appréciation du taux de change nominal se révèle cruciale pour limiter la surchauffe de l’économie. A l’inverse, dans les économies en régime de change fixe, l’abaissement des primes de risque pays est susceptible de provoquer une montée de l’endettement extérieur, suivi d’enchaînements déflationnistes une fois dans l’union monétaire. / This research investigates the challenges of price level catching-up for macroeconomic stability in Central and Eastern European transition countries seeking to enter the Euro area. In this respect, an equilibrium real exchange rate model suggests that the process of real appreciation observed along economic catching-up in these countries can be ascribed to different relative price developments, depending on the exchange rate regime, as exemplified by contrasted external debt trajectories. In flexible exchange rate economies, the increase in the nominal exchange rate fosters an endogenous appreciation of the terms of trade in the medium run, by channelling foreign direct investment and associated productivity gains to the exposed sector of the economy, thus appreciating the equilibrium real exchange rate and strengthening the current account over time. In fixed exchange rate economies, positive valuation effects associated with the increase in domestic relative prices tend to divert investment to the sheltered sector, thus undermining external competitiveness and bringing about higher external debt. Furthermore, monetary integration entails specific risks for macroeconomic stability in catching-up economies, because it implies a process of rapid convergence in the financing conditions across member States, which takes place as soon as the perspective of accession to the common monetary area appears credible. A dynamic, rational expectations model shows that the appreciation of the nominal exchange rate becomes crucial to curtail the economic overheating triggered by the demand shock associated with financial convergence. By contrast, diminishing country risk premia under fixed exchange rate regimes are likely to cause ‘boom bust’ cycles, with an increase in external indebtedness followed by deflationary developments once in the monetary union.