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Twentieth Century Growth

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  • Crafts, Nicholas

    (University of Warwick)

  • O’Rourke Hjortshøj, Kevin

    (All Souls College, Oxford)

Abstract

This paper surveys the experience of economic growth in the 20th century with a focus on technological change at the frontier together with issues related to success and failure in catch-up growth. A detailed account of growth performance based on historical national accounts data is given and is accompanied by a review of growth accounting evidence on the sources of economic growth. The key features of our analysis of divergence in growth outcomes are an emphasis on the importance of ‘directed’ technical change, of institutional quality, and of geography. We provide brief case studies of the experience of individual countries to illustrate these points.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/centres/cage/research/wpfeed/153-2013_crafts.pdf
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Bibliographic Info

Paper provided by Competitive Advantage in the Global Economy (CAGE) in its series CAGE Online Working Paper Series with number 153.

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Date of creation: 2013
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Handle: RePEc:cge:wacage:153

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Keywords: catch-up growth; divergence; growth accounting; technical change;

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