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Unified Growth Theory Contradicted by the Economic Growth in Africa

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  • Ron W Nielsen

Abstract

One of the fundamental postulates of the Unified Growth Theory is the claimed existence of three distinctly different regimes of economic growth governed by three distinctly different mechanisms of growth. However, Galor also proposed that the timing of these regimes is different for developed countries and for less-developed countries. Africa is the perfect example of economic growth in less-developed countries. The data used by Galor, but never properly investigated, are now analysed. They turn out to be in dramatic contradiction of this theory.

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  • Ron W Nielsen, 2015. "Unified Growth Theory Contradicted by the Economic Growth in Africa," Papers 1512.03164, arXiv.org, revised Feb 2016.
    • Handle: RePEc:arx:papers:1512.03164
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    References listed on IDEAS

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    1. 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.
    2. Oded Galor, 2011. "Unified Growth Theory and Comparative Development," Rivista di Politica Economica, SIPI Spa, issue 2, pages 9-21, April-Jun.
    3. Oded Galor, 2011. "Unified Growth Theory," Economics Books, Princeton University Press, edition 1, number 9477.
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    Cited by:

    1. Ron W. NIELSEN, 2016. "Mathematical Analysis of the Historical Economic Growth with a Search for Takeoffs from Stagnation to Growth," Journal of Economics Library, KSP Journals, vol. 3(1), pages 1-23, March.

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