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Early Starts, Reversals and Catchup in The Process of Economic Development

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Author Info

  • Areendam Chanda

    (Louisiana State University)

  • Louis Putterman

    (Brown University)

Abstract

Early states like China, India, Italy and Greece have been experiencing more rapid economic growth in recent decades than have later-comers to agriculture and statehood like New Guinea, the Congo, and Uruguay. We show that more rapid growth by early starters has been the norm in economic history, and that the “reversal of fortune” associated with European overseas expansion from about 1500 to 1960 was an exception. We demonstrate that the colonial era reversal was in the process of being reversed in recent decades, and that this second reversal is in line with longer-term trends dating back to the first agricultural revolution.

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File URL: http://128.118.178.162/eps/dev/papers/0408/0408016.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Development and Comp Systems with number 0408016.

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Length: 44 pages
Date of creation: 19 Aug 2004
Date of revision:
Handle: RePEc:wpa:wuwpdc:0408016

Note: Type of Document - pdf; pages: 44
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Web page: http://128.118.178.162

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Keywords: economic growth; economic development; economic history;

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References

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  1. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, 09.
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  8. Daron Acemoglu & Simon Johnson & James A. Robinson, 2000. "The Colonial Origins of Comparative Development: An Empirical Investigation," NBER Working Papers 7771, National Bureau of Economic Research, Inc.
  9. Areendam Chanda & Louis Putterman, 2004. "The Quest for Development," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(2), pages 1-31, April.
  10. Louis Putterman & Valerie Bockstette, 2000. "States and Markets:the Advantage of an Early Start," Working Papers 2000-12, Brown University, Department of Economics.
  11. Burkett, John P & Humblet, Catherine & Putterman, Louis, 1999. "Preindustrial and Postwar Economic Development: Is There a Link?," Economic Development and Cultural Change, University of Chicago Press, vol. 47(3), pages 471-95, April.
  12. Daron Acemoglu & Simon Johnson & James A. Robinson, 2001. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," NBER Working Papers 8460, National Bureau of Economic Research, Inc.
  13. Louis Putterman, 2000. "Can an evolutionary approach to development predict post-war economic growth?," Journal of Development Studies, Taylor & Francis Journals, vol. 36(3), pages 1-30.
  14. Hibbs Jr., Douglas A. & Olsson, Ola, 2003. "Geography, Biogeography and Why Some Countries are Rich and Others Poor," Working Papers in Economics 105, University of Gothenburg, Department of Economics, revised 15 Jan 2004.
  15. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross-Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
  16. Graham Bird & Dane Rowlands, 2004. "Does the IMF Perform a Catalytic Role?," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 5(1), pages 117-132, January.
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