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Slowdowns And Meltdowns: Postwar Growth Evidence From 74 Countries

Listed author(s):
  • Dan Ben-David
  • David H. Papell

This paper proposes an explicit test for determining the significance and the timing of slowdowns in economic growth. We examine a large sample of countries and find that a majority - though not all - exhibit a significant structural break in their postwar growth rates. We find that (a) most industrialized countries experienced postwar growth slowdowns in the early 1970s, though (b) the United States, Canada, and the United Kingdom did not, and (c) developing countries (and in particular, Latin American countries) tended to experience much more severe slowdowns which, in contrast with the more developed countries, began nearly a decade later. © 1998 by the President and Fellows of Harvard College and the Massachusetts Institute of Technolog

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Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 80 (1998)
Issue (Month): 4 (November)
Pages: 561-571

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Handle: RePEc:tpr:restat:v:80:y:1998:i:4:p:561-571
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  8. Paul M. Romer, 1987. "Crazy Explanations for the Productivity Slowdown," NBER Chapters,in: NBER Macroeconomics Annual 1987, Volume 2, pages 163-210 National Bureau of Economic Research, Inc.
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  11. Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 501-526.
  12. Ben-David, Dan & Papell, David H., 1995. "The great wars, the great crash, and steady state growth: Some new evidence about an old stylized fact," Journal of Monetary Economics, Elsevier, vol. 36(3), pages 453-475, December.
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