The History Augmented Solow model
Carl-Johan Dalgaard () and
Holger Strulik ()
Hannover Economic Papers (HEP) from Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Unified growth theory predicts that the timing of the fertility transition is a key determinant of contemporary comparative development, as it marks the onset of the take-off to sustained growth. Neoclassical growth theory presupposes a take-off, and explains comparative development by variations in (subsequent) investment rates. The present analysis integrates these two perspectives empirically, and shows that they together constitute a powerful predictive tool vis-a-vis contemporary income differences.
Keywords: Comparative Development; Unified Growth Theory; Neoclassical Growth Theory (search for similar items in EconPapers)
JEL-codes: O11 O57 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-evo and nep-fdg
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Journal Article: The history augmented Solow model (2013)
Working Paper: The history augmented Solow model (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:han:dpaper:dp-460
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