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Learning from the Doers: Developing Country Lessons for Advanced Economy Growth

Anusha Chari () and Peter Blair Henry

American Economic Review, 2014, vol. 104, issue 5, 260-65

Abstract: From 1980 to 1992, emerging and developing countries grew by 3.4 percent per year. Their annual rate of growth increased to 5.4 percent between 1993 and 2012. No such increase occurred for advanced nations, whose average growth from 1980 to 2012 was roughly constant (excluding the impact of the 2008–2009 Recession). Developing nations turned themselves around by embracing discipline-sustained commitment to a pragmatic and flexible growth strategy. Three illustrations of discipline through the lens of trade, fiscal, and debt reforms in the developing world offer relevant, practical lessons for recovery in advanced economies and continued catch-up growth in developing nations.

JEL-codes: D83 E32 E62 G01 O11 O23 O47 (search for similar items in EconPapers)
Date: 2014
Note: DOI: 10.1257/aer.104.5.260
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