Abstract
We consider a two-country endogenous growth model where an economic follower absorbs part of the knowledge generated in a leading country. To solve a suitably defined infinite horizon dynamic optimization problem an appropriate version of the Pontryagin maximum principle is developed. The properties of optimal controls and the corresponding optimal trajectories are characterized by the qualitative analysis of the solutions of the Hamiltonian system arising through the implementation of the Pontryagin maximum principle.
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