Unified Growth Theory

Oded Galor

Development and Comp Systems from University Library of Munich, Germany

Abstract: This chapter examines the process of development from an epoch of Malthusian stagnation to a state of sustained economic growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of income per capita, technology, and population over the entire course of human history. The inconsistency of non-unified growth models with the main characteristics of the process of development across most of human history induced growth theorists to advance an alternative theory that captures in a single unified framework the epoch of Malthusian stagnation, the modern era of sustained economic growth, and the recent transition between these distinct regimes. Unified growth theory reveals the underlying micro foundations that are consistent with the growth process over the entire history of the human species, enhancing the confidence in the viability of the theory, its predictions and its policy implications for the growth process of less developed economies.

Keywords: Growth; Technological Progress; Demographic Transition; Income Distribution; Human Capital; Evolution; Natural Selection; Malthusian Stagnation; Class Structure. (search for similar items in EconPapers)
JEL-codes: J11 J13 O11 O14 O33 O40 (search for similar items in EconPapers)
Pages: 108 pages
Date: 2005-04-01
New Economics Papers: this item is included in nep-dev, nep-dge, nep-hpe and nep-tid
Note: Type of Document - pdf; pages: 108
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://econwpa.ub.uni-muenchen.de/econ-wp/dev/papers/0504/0504001.pdf (application/pdf)

Related works:
Book: Unified Growth Theory (2011)
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:wpa:wuwpdc:0504001

Access Statistics for this paper

More papers in Development and Comp Systems from University Library of Munich, Germany
Bibliographic data for series maintained by EconWPA ( this e-mail address is bad, please contact ).