Growth Accelerations

Ricardo Hausmann, Lant Pritchett and Dani Rodrik

No 10566, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Unlike most cross-country growth analyses, we focus on turning points in growth performance. We look for instances of rapid acceleration in economic growth that are sustained for at least eight years and identify more than 80 such episodes since the 1950s. Growth accelerations tend to be correlated with increases in investment and trade, and with real exchange rate depreciations. Political-regime changes are statistically significant predictors of growth accelerations. External shocks tend to produce growth accelerations that eventually fizzle out, while economic reform is a statistically significant predictor of growth accelerations that are sustained. However, growth accelerations tend to be highly upredictable: the vast majority of growth accelerations are unrelated to standard determinants and most instances of economic reform do not produce growth accelerations.

JEL-codes: O1 O5 (search for similar items in EconPapers)
Date: 2004-06
New Economics Papers: this item is included in nep-dev, nep-ifn and nep-lam
Note: EFG ITI
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Citations: View citations in EconPapers (80)

Published as Ricardo Hausmann & Lant Pritchett & Dani Rodrik, 2005. "Growth Accelerations," Journal of Economic Growth, Springer, vol. 10(4), pages 303-329, December.

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Journal Article: Growth Accelerations (2005)
Working Paper: Growth Accelerations (2004)
Working Paper: Growth Accelerations (2004)
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