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Economic Growth in the Twentieth Century

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  • Crafts, Nicholas

Abstract

Estimates of growth rates of real output per head in various countries are presented and it is concluded that divergence has been more common than catch-up in the twentieth century. Trends in the Human Development Index are reported and these offer a more encouraging picture of the relative performance of poor countries. Key issues in growth economics are reviewed against the background of the long-run evidence; these include the plausibility of innovation-based theories of endogenous growth, the reasons for the commonplace failure of fast-growing countries to sustain their growth, and the impact of technological revolutions on productivity growth. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Crafts, Nicholas, 1999. "Economic Growth in the Twentieth Century," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 15(4), pages 18-34, Winter.
    • Handle: RePEc:oup:oxford:v:15:y:1999:i:4:p:18-34
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    Cited by:

    1. Adetutu, Morakinyo O. & Glass, Anthony J. & Weyman-Jones, Thomas G., 2016. "Decomposing energy demand across BRIIC countries," Energy Economics, Elsevier, vol. 54(C), pages 396-404.
    2. Iulia Andreea BUCUR & Oana Ancuta STANGACIU, 2015. "The European Union Convergence In Terms Of Economic And Human Development," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 7(2), pages 256-275, August.
    3. Svedberg, Peter, 2003. "World Income Distribution: Which Way?," Seminar Papers 724, Stockholm University, Institute for International Economic Studies.
    4. Zoya Mladenova, 2005. "XX Century and the Evolution of the Economic Theory (Neoclassical Theory: Development of Microeconomics)," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 3-23.
    5. Kwack, Sung Yeung & Sun, Lee Young, 2005. "Economies of scale, technological progress, and the sources of economic growth: case of Korea, 1969-2000," Journal of Policy Modeling, Elsevier, vol. 27(3), pages 265-283, April.
    6. KONYA, Laszlo & GUISAN, Maria-Carmen, 2008. "What Does The Human Development Index Tell Us About Convergence?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(1), pages 19-40.
    7. Michele Boldrin & David K Levine, 2007. "All the Interesting Questions, Almost All the Wrong Reasons," Levine's Working Paper Archive 784828000000000706, David K. Levine.
    8. Svedberg, Peter, 2002. "Income Distribution Across Countries: How is it Measured and What Do the Results Show?," Seminar Papers 698, Stockholm University, Institute for International Economic Studies.
    9. EL-MEFLEH, Muhannad A. & SHOTAR, Manhal M., 2008. "A Contribution To The Analysis Of The Economic Growth Of Qatar," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(1), pages 147-154.
    10. Alan Booth, 2003. "The manufacturing failure hypothesis and the performance of British industry during the long boom," Economic History Review, Economic History Society, vol. 56(1), pages 1-33, February.

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