TECHNOLOGY ADOPTION, CAPITAL MAINTENANCE AND THE TECHNOLOGICAL GAP* Raouf Boucekkine, Blanca Martínez and Cagri Saglam** WP-AD 2003-18 Correspondence to: Raouf Boucekkine, IRES and CORE, Université Catholique de Louvain, Place Montesquieu, 3 B-1348 Louvain-la-Neuve (Belgique), E-mail: boucekkine@ires.ucl.ac.be. Editor: Instituto Valenciano de Investigaciones Económicas, S.A. Primera Edición Mayo 2003 Depósito Legal: V-2365-2003 IVIE working papers offer in advance the results of economic research under way in order to encourage a discussion process before sending them to scientific journals for their final publication. * The authors acknowledge the support of the Belgian research programmes ``Poles d'Attraction inter- universitaires'' PAI P5/21, and “Action de Recherches Concertée”' 99/04-235. ** R. Boucekkine: IRES and CORE, Université Catholique de Louvain; B. Martínez: Universidad de Alicante; C. Saglam: IRES, Université Catholique de Louvain.