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The Facts of Economic Growth

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  • Jones, C.I.

Abstract

Why are people in the richest countries of the world so much richer today than 100 years ago? And why are some countries so much richer than others? Questions such as these define the field of economic growth. This paper documents the facts that underlie these questions. How much richer are we today than 100 years ago, and how large are the income gaps between countries? The purpose of the paper is to provide an encyclopedia of the fundamental facts of economic growth upon which our theories are built, gathering them together in one place and updating them with the latest available data.

Suggested Citation

  • Jones, C.I., 2016. "The Facts of Economic Growth," Handbook of Macroeconomics, Elsevier.
  • Handle: RePEc:eee:macchp:v2-3
    DOI: 10.1016/bs.hesmac.2016.03.002
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    1. Michal burzynski & Christoph Deuster & Frédéric Docquier, 2018. "The Geography of Talent: Development Implications and Long-Run Prospects," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 2018002, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    2. Diego Restuccia & Richard Rogerson, 2017. "The Causes and Costs of Misallocation," Journal of Economic Perspectives, American Economic Association, vol. 31(3), pages 151-174, Summer.
    3. repec:bla:apacel:v:31:y:2017:i:2:p:19-29 is not listed on IDEAS
    4. Han, Xuehui & Wei, Shang-Jin, 2017. "Re-examining the middle-income trap hypothesis (MITH): What to reject and what to revive?," Journal of International Money and Finance, Elsevier, vol. 73(PA), pages 41-61.
    5. Guido Baldi & Patrick Harms, 2015. "Productivity Growth, Investment, and Secular Stagnation," DIW Roundup: Politik im Fokus 83, DIW Berlin, German Institute for Economic Research.
    6. repec:eee:jpolmo:v:39:y:2017:i:4:p:680-698 is not listed on IDEAS
    7. Krenz, Astrid & Prettner, Klaus & Strulik, Holger, 2018. "Robots, reshoring, and the lot of low-skilled workers," Center for European, Governance and Economic Development Research Discussion Papers 351, University of Goettingen, Department of Economics.
    8. Samira Hasanzadeh & Hashmat Khan, 2016. "Sources of Canadian Economic Growth," Carleton Economic Papers 16-02, Carleton University, Department of Economics, revised 16 Oct 2017.
    9. Fischer, Thomas, 2017. "Thomas Piketty and the rate of time preference," Journal of Economic Dynamics and Control, Elsevier, vol. 77(C), pages 111-133.
    10. Dao, Thu Hien & Docquier, Frédéric & Parsons, Chris & Peri, Giovanni, 2018. "Migration and development: Dissecting the anatomy of the mobility transition," Journal of Development Economics, Elsevier, vol. 132(C), pages 88-101.
    11. Fernald, John G., 2016. "Reassessing Longer-Run U.S. Growth: How Low?," Working Paper Series 2016-18, Federal Reserve Bank of San Francisco.
    12. Sebastian Di Tella, 2017. "Optimal Regulation of Financial Intermediaries," NBER Working Papers 23586, National Bureau of Economic Research, Inc.
    13. World Bank, 2015. "Peru Building on Success," World Bank Other Operational Studies 22984, The World Bank.
    14. Adewuyi, Adeolu O. & Awodumi, Olabanji B., 2017. "Biomass energy consumption, economic growth and carbon emissions: Fresh evidence from West Africa using a simultaneous equation model," Energy, Elsevier, vol. 119(C), pages 453-471.
    15. repec:eee:rujoec:v:2:y:2016:i:4:p:349-374 is not listed on IDEAS
    16. Jan Ditzen, 2016. "xtdcce: Estimating Dynamic Common Correlated Effects in Stata," SEEC Discussion Papers 1601, Spatial Economics and Econometrics Centre, Heriot Watt University.
    17. repec:eee:reecon:v:71:y:2017:i:3:p:564-587 is not listed on IDEAS
    18. Caselli, Francesco & Manning, Alan, 2018. "Robot arithmetic: new technology and wages," LSE Research Online Documents on Economics 87371, London School of Economics and Political Science, LSE Library.
    19. Zeira, Joseph & Zoabi, Hosny, 2015. "Economic growth and sector dynamics," European Economic Review, Elsevier, vol. 79(C), pages 1-15.
    20. Francesco Caselli & Alan Manning, 2017. "Robot Arithmetic: Can New Technology Harm All Workers or the Average Worker?," CEP Discussion Papers dp1497, Centre for Economic Performance, LSE.
    21. Kosuke Aoki & Naoko Hara & Maiko Koga, 2017. "Structural Reforms, Innovation and Economic Growth," Bank of Japan Working Paper Series 17-E-2, Bank of Japan.
    22. Jerzmanowski, Michal & Tamura, Robert, 2017. "Directed Technological Change & Cross Country Income Differences: A Quantitative Analysis," MPRA Paper 80582, University Library of Munich, Germany.

    More about this item

    Keywords

    Economic growth; Development; Long-run growth; Productivity; E01; O10; 04;

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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