Crafts, Nicholas (1999) Economic growth in the Twentieth Century. Oxford review of economic policy, 15 (4). pp. 18-34. ISSN 1460-2121
Estimates of growth rates of real output per head in various countries are presented and it is concluded that divergence has been more common than catch-up in the twentieth century. Trends in the Human Development Index are reported and these offer a more encouraging picture of the relative performance of poor countries. Key issues in growth economics are reviewed against the background of the long-run evidence; these include the plausibility of innovation-based theories of endogenous growth, the reasons for the commonplace failure of fast-growing countries to sustain their growth, and the impact of technological revolutions on productivity growth.
|Additional Information:||© 1999 Oxford University Press and the Oxford Review of Economic Policy Limited|
|Library of Congress subject classification:||H Social Sciences > HC Economic History and Conditions|
|Sets:||Departments > Economic History
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