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The history augmented Solow model

Carl-Johan Dalgaard () and Holger Strulik ()

No 151, Center for European, Governance and Economic Development Research Discussion Papers from University of Goettingen, Department of Economics

Abstract: 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-dev, nep-evo and nep-his
Date: 2013
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