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Economic growth in the Twentieth Century

Crafts, Nicholas (1999) Economic growth in the Twentieth Century. Oxford Review of Economic Policy, 15 (4). pp. 18-34. ISSN 1460-2121

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Identification Number: 10.1093/oxrep/15.4.18


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.

Item Type: Article
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Additional Information: © 1999 Oxford University Press and the Oxford Review of Economic Policy Limited
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
Date Deposited: 17 Feb 2010 15:37
Last Modified: 15 May 2024 23:45

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