Multiple Growth Regimes ? Insights from Unified Growth Theory

Oded Galor

No 6427, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in a Malthusian regime, fast growing countries in a sustained growth regime, and economies in the transition between these regimes. In contrast to existing research that links regime switching thresholds to critical levels of income or human capital, UGT associates them with critical changes in the rates of technological progress, population growth, and human capital formation.

Keywords: Convergence clubs; Malthusian epoch; Sustained growth; Unified growth theory (search for similar items in EconPapers)
JEL-codes: O40 (search for similar items in EconPapers)
Date: 2007-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (33)

Downloads: (external link)
https://cepr.org/publications/DP6427 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Journal Article: Multiple growth regimes - Insights from unified growth theory (2007)
Working Paper: Multiple Growth Regimes-Insights from Unified Growth Theory (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:6427

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP6427

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().