Economic Growth: The Last Hundred Years

D. C. Paige, F. T. Blackaby and S. Freund

National Institute Economic Review, 1961, vol. 16, 24-66

Abstract: Since the war the economies of some developed countries appear to have been growing exceptionally fast (table 1, chart 1). From 1950 onwards six countries have shown growth rates of 3 to 6 per cent; four of these have shown rates of over 3 per cent since 1954, by which time the effects of post-war recovery might be expected to have been over. These rates are nearly all more than twice as high as the long-term averages of the countries concerned. Does this imply that they are some kind of spurt rates which will inevitably revert, sooner or later, to more ‘normal’ rates of growth?

Date: 1961
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