Working Paper: CEPR ID: DP1111
Authors: Dan Bendavid; David H. Papell
Abstract: Many countries, both industrialized and developing, appear to have experienced a slowdown in economic growth. We examine a large sample of countries and find that a majority exhibit a significant structural break in their post-war growth rates. In nearly all of these cases the break was followed by a growth slowdown. The breaks fall into two primary periods which delineate countries by developmental and regional characteristics as well as by the magnitude of the subsequent slowdowns.
Keywords: economic growth; slowdowns; meltdowns
JEL Codes: C22; O1; O5; O47
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| structural break in postwar growth rates (N14) | growth slowdown (O41) |
| 1978-1983 break period (E65) | growth meltdown (O41) |
| 1970-1975 break period (C41) | growth slowdown (O41) |
| developing countries (O10) | divergence in income levels (D31) |