Modern economic growth and recent stagnation
During the past 200 years, most countries have entered a period of modern economic growth-consistent increases in output, input, and productivity per worker that were rare in previous centuries. Even so, a few regions of the world have experienced stagnant or falling living standards in recent years, which some have interpreted as typical of modern economic growth in the last two centuries. ; Using data for most countries in the world since the 1800s and early 1900s, the authors find that (1) economic growth has improved the lives of people all around the world compared to those of their ancestors and (2) the economic stagnation or decline in some parts of the world in recent decades is unusual in the broader context of the history of the world since 1800. ; The authors find that economic growth had become nearly global by the 1950s, and the recent economic declines in four regions in recent decades are atypical. Decreases in income and productivity are likely to be transitory in Central and Eastern Europe but may be longer lasting in the Middle East and Latin America. While modern economic growth may never have begun in Sub-Saharan Africa, government policies in that region have done more to throttle economic growth than to encourage it.
Volume (Year): (2003)
Issue (Month): Q3 ()
|Contact details of provider:|| Postal: |
Web page: http://www.frbatlanta.org/
More information through EDIRC
|Order Information:|| Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- William Easterly, 2002. "The Elusive Quest for Growth: Economists' Adventures and Misadventures in the Tropics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262550423, June.
- Paul Collier & Jan Willem Gunning, 1998.
"Explaining African economic performance,"
Economics Series Working Papers
WPS/1997-02.2, University of Oxford, Department of Economics.
- Scott L. Baier & Gerald P. Dwyer, Jr. & Robert Tamura, 2002.
"How important are capital and total factor productivity for economic growth?,"
2002-2, Federal Reserve Bank of Atlanta.
- Scott L. Baier & Gerald P. Dwyer & Robert Tamura, 2006. "How Important are Capital and Total Factor Productivity for Economic Growth?," Economic Inquiry, Western Economic Association International, vol. 44(1), pages 23-49, January.
- Cardoso, Eliana A. & Dornbusch, Rudiger, 1989. "Foreign private capital flows," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 2, chapter 26, pages 1387-1439 Elsevier.
- Nauro F. Campos & Fabrizio Coricelli, 2002.
"Growth in Transition: What We Know, What We Don't, and What We Should,"
William Davidson Institute Working Papers Series
470, William Davidson Institute at the University of Michigan.
- Nauro F. Campos & Abrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 793-836, September.
- Campos, Nauro F & Coricelli, Fabrizio, 2002. "Growth in Transition: What we Know, What we Don't and What we Should," CEPR Discussion Papers 3246, C.E.P.R. Discussion Papers.
- Easterly, W & Levine, R, 1996.
"Africa's Growth Tragedy : Policies and Ethnic Divisions,"
536, Harvard - Institute for International Development.
- Easterly, William & Levine, Ross, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1203-50, November.
- Michael P. Dooley, 1994. "A Retrospective on the Debt Crisis," NBER Working Papers 4963, National Bureau of Economic Research, Inc.
- repec:cup:cbooks:9780521597135 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:fip:fedaer:y:2003:i:q3:p:45-62:n:v.88no.3. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Meredith Rector)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.