Post-war Growth: An Overview
AbstractThe paper comprises a thorough survey of the literature on growth in Western Europe since 1950. This experience is put in the context both of long-run historical trends and the ideas emanating from recent work in growth economics. The exceptional nature of the Golden Age (c.1950-73) is confirmed and given an historical interpretation. Catch-up growth is seen as central to this period but not to be a pure neoclassical phenomenon. It is argued that theory has run ahead of measurement and that future research will need to look much more carefully at proxies for human capital formation and at determinants of ex-ante returns on investment.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1095.
Date of creation: Jan 1995
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Find related papers by JEL classification:
- N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
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