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The 2008 Lawrence R. Klein Lecture-Comparative Economic Development: Insights From Unified Growth Theory

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  • Oded Galor

Abstract

This article explores the implications of Unified Growth Theory for the origins of existing differences in income per capita across countries. The theory sheds light on three fundamental layers of comparative development. It identifies the factors that have governed the pace of the transition from stagnation to growth and have thus contributed to contemporary variation in economic development. It uncovers the forces that have sparked the emergence of multiple growth regimes and convergence clubs, and it underlines the persistent effects that variations in prehistorical biogeographical conditions have generated on the composition of human capital and economic development across the globe. Copyright (2010) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

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  • Oded Galor, 2010. "The 2008 Lawrence R. Klein Lecture-Comparative Economic Development: Insights From Unified Growth Theory," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(1), pages 1-44, February.
  • Handle: RePEc:ier:iecrev:v:51:y:2010:i:1:p:1-44
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