Working Paper: CEPR ID: DP9633
Authors: Nicholas Crafts; Kevin Hjortshøj O'Rourke
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.
Keywords: catch-up growth; divergence; growth accounting; technical change
JEL Codes: N10; O33; O43; O47
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| directed technical change (O33) | economic growth (O49) |
| institutional quality (L15) | economic growth (O49) |
| technological change (O33) | economic growth (O49) |
| institutional quality (L15) | directed technical change (O33) |
| industrial revolution (O14) | economic growth (O49) |