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National Bureau of Economic Research Inc.
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Program report: economic growth.
Program Report
Economic Growth In the 1950s and 1960s, there was widespread interest among economists in the long-run rate of economic growth. Initially, economists followed the pattern set by Robert M. Solow's seminal papers and developed the theory of dynamic models in tandem with empirical work on growth accounting. (1) But by the 1970s, theoretical and empirical work on growth and development diverged. Professional interest in growth waned, despite the paramount importance of these issue. Two years ago, we created a growth project to encourage the kind of interaction between theory and evidence that once had been so successful. Recent Trends in Empirical and Theoretical Work Two recent sources of data have been influential in stimulating renewed empirical work on growth. In Phases of Capitalist Development, Angus Maddison summarized much of his work on constructing comparable sets of data that extend over a century or more for a small set of developed countries. Separately, Alan ...See the full content of this document
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