On the Historical Continuity of the Process of Economic Growth
AbstractPooled regressions, first of eight and then of sixteen countries, show a steady and robust process of endogenous growth in Europe since 1870, interrupted only by the events of World War II and the impact of convergence towards US levels of performance in the 1950s and the 1960s. This result contrasts with that of Maurice Scott, who finds that growth accelerated after 1945. Catching up is no longer relevant in the 1970s and the 1980s, despite a continuing gap in productivity levels vis á vis the US. Neither was it relevant in the pre-World War II era. Growth is, therefore, characterized by the device `back to normal'. Even so, some under-perform in terms of economic growth.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 850.
Date of creation: Oct 1993
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- Klundert, T.C.M.J. van de & Schaik, A.B.T.M. van, 1996. "On the historical continuity of the process of economic growth," Open Access publications from Tilburg University urn:nbn:nl:ui:12-72965, Tilburg University.
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
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- Schaik, A.B.T.M. van & Hendrickx, R.L.P., 2000. "Institutions and Economic Success," Open Access publications from Tilburg University urn:nbn:nl:ui:12-4808816, Tilburg University.
- Canton, E.J.F., 1994. "The OECD 1951-88 growth experience revisited," Research Memorandum 674, Tilburg University, Faculty of Economics and Business Administration.
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