Economic Growth in the Twentieth Century

Nicholas Crafts

Oxford Review of Economic Policy, 1999, vol. 15, issue 4, 18-34

Abstract: 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. Copyright 1999 by Oxford University Press.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:oup:oxford:v:15:y:1999:i:4:p:18-34

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