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Early Starts, Reversals and Catchup in The Process of Economic Development

Author

Listed:
  • Areendam Chanda

    (Louisiana State University)

  • Louis Putterman

    (Brown University)

Abstract

Early states like China, India, Italy and Greece have been experiencing more rapid economic growth in recent decades than have later-comers to agriculture and statehood like New Guinea, the Congo, and Uruguay. We show that more rapid growth by early starters has been the norm in economic history, and that the “reversal of fortune” associated with European overseas expansion from about 1500 to 1960 was an exception. We demonstrate that the colonial era reversal was in the process of being reversed in recent decades, and that this second reversal is in line with longer-term trends dating back to the first agricultural revolution.

Suggested Citation

  • Areendam Chanda & Louis Putterman, 2004. "Early Starts, Reversals and Catchup in The Process of Economic Development," Development and Comp Systems 0408016, EconWPA.
  • Handle: RePEc:wpa:wuwpdc:0408016
    Note: Type of Document - pdf; pages: 44
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    References listed on IDEAS

    as
    1. Burkett, John P & Humblet, Catherine & Putterman, Louis, 1999. "Preindustrial and Postwar Economic Development: Is There a Link?," Economic Development and Cultural Change, University of Chicago Press, vol. 47(3), pages 471-495, April.
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    13. Bockstette, Valerie & Chanda, Areendam & Putterman, Louis, 2002. "States and Markets: The Advantage of an Early Start," Journal of Economic Growth, Springer, vol. 7(4), pages 347-369, December.
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    More about this item

    Keywords

    economic growth; economic development; economic history;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • N00 - Economic History - - General - - - General

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