Learning From the Doers: Developing Country Lessons for Advanced Economy Growth

Anusha Chari and Peter Henry

No 19934, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: From 1980 to 1992, emerging and developing countries grew by 3.4 percent per year. Their annual rate of growth increased to 5.4 percent between 1993 and 2012. No such increase occurred for advanced nations, whose average growth from 1980-2012 was roughly constant (excluding the impact of the 2008-09 Recession). Developing nations turned themselves around by embracing discipline--sustained commitment to a pragmatic and flexible growth strategy. Three illustrations of discipline through the lens of trade, fiscal, and debt reforms in the developing world offer relevant, practical lessons for recovery in advanced economies and continued catch-up growth in developing nations.

JEL-codes: E62 E65 F43 O11 O19 O57 (search for similar items in EconPapers)
Date: 2014-02
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Published as Anusha Chari & Peter Blair Henry, 2014. "Learning from the Doers: Developing Country Lessons for Advanced Economy Growth," American Economic Review, American Economic Association, vol. 104(5), pages 260-65, May.

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Journal Article: Learning from the Doers: Developing Country Lessons for Advanced Economy Growth (2014)
Working Paper: Learning From the Doers: Developing Country Lessons for Advanced Economy Growth (2014)
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