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Puzzles of Economic Growth

Author

Listed:
  • Leszek Balcerowicz
  • Andrzej Rzonca

Abstract

Looking at the economic growth of seemingly similar countries one can find striking differences. Why has Australia gotten so much ahead of New Zealand, in spite of the latter being held up as a paragon of free market reform? How is it possible that Austria, with its persistently oversized state enterprise sector, has managed to (nearly) catch up with Switzerland? How can we account for the differences in economic growth between Estonia and Slovenia, and which of these two countries has been more successful at systemic transformation? Why is Mexico so much poorer than Spain, despite having been wealthier all the way into the 1960s? Why has Venezuela, which in 1950 had a per capita income higher than that of Norway and remains a major exporter of oil, slipped behind Chile? Why is Costa Rica lagging behind Puerto Rico, even though in the 1970s the U.S. territory's fast development slowed to a crawl and is now far below other comparable island economies? Why has 'communist' China outstripped 'capitalist' India? Why has Pakistan's growth lagged behind that of Indonesia, even though the latter suffered one of the deepest crises in world economic history in the years 1997-98? Why, even before the 2010 earthquake, the Dominican Republic has been visited by several dozen times more tourists than Haiti, despite being situated on the same island? This book strives to answer these (and many other) questions. They are all part of a broader question that we wish to address: how do differences in economic growth arise?

Suggested Citation

  • Leszek Balcerowicz & Andrzej Rzonca, 2015. "Puzzles of Economic Growth," World Bank Publications - Books, The World Bank Group, number 20601, December.
    • Handle: RePEc:wbk:wbpubs:20601
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    References listed on IDEAS

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    6. Ahmed, Sadiq, 1994. "Explaining Pakistan's high growth performance over the past two decades : can it be sustained ?," Policy Research Working Paper Series 1341, The World Bank.
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    Cited by:

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    2. Piotr Ciżkowicz & Andrzej Rzońca, 2015. "Inflation Targeting and its Discontents: The Case of Poland," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 65(supplemen), pages 107-122, December.
    3. Fernanda Cimini & Jorge Britto & Leonardo Costa Ribeiro, 2020. "Complexity systems and middle-income trap: the long-term roots of Latin America underdevelopment [Sistemas complexos e armadilha da renda media: as raízes de longo prazo do subdesenvolvimento latino-a," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 30(spe), pages 1225-1256, December.
    4. Izabela Młynarzewska-Borowiec, 2021. "Does Implementation of the Smart Growth Priority Affect Per Capita Income of EU countries?—Empirical Analysis for the Period 2000–2017," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 12(3), pages 1345-1366, September.
    5. Mengüç, Işıl Tellalbaşı, 2021. "An Application for the Impact of the Agricultural Labor Force and Employment Structure on the Economic Growth in Turkey," OSF Preprints jsmdb, Center for Open Science.

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