On the Historical Continuity of the Process of Economic Growth

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On the Historical Continuity of the Process of Economic Growth

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van de Klundert, Theo C N J
van Schaik, Anton

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Ton Van Schaik

Abstract

Pooled 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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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 850.

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Date of creation: Oct 1993
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Handle: RePEc:cpr:ceprdp:850

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Find related papers by JEL classification:
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - 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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Canton, E., 1994. "The OECD 1951-88 Growth Experience Revisited," Research Memorandum 674, Tilburg University, Faculty of Economics and Business Administration. [Downloadable!]

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