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Twentieth Century Growth

Author

Listed:
  • Kevin Hjortshøj O'Rourke
  • Nicholas Crafts

Abstract

This paper surveys the experience of economic growth in the 20th century with a focus on technological change at the frontier together with issues related to success and failure in catch-up growth. A detailed account of growth performance based on historical national accounts data is given and is accompanied by a review of growth accounting evidence on the sources of economic growth. The key features of our analysis of divergence in growth outcomes are an emphasis on the importance of 'directed' technical change, of institutional quality, and of geography. We provide brief case studies of the experience of individual countries to illustrate these points.

Suggested Citation

  • Kevin Hjortshøj O'Rourke & Nicholas Crafts, 2013. "Twentieth Century Growth," Economics Series Working Papers 117, University of Oxford, Department of Economics.
  • Handle: RePEc:oxf:wpaper:117
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    File URL: http://www.economics.ox.ac.uk/materials/papers/12884/CraftsO'Rourke117.pdf
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    More about this item

    Keywords

    catch-up; divergence; growth accounting; technical change;

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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