Early Starts, Reversals and Catch-up in the Process of Economic Development
Early states like China and India have been experiencing more rapid economic growth in recent decades. We show that more rapid growth by early starters has been the norm in economic history, and that the "reversal of fortune" associated with the European overseas expansion was both excepti...
| Veröffentlicht in: | The Scandinavian Journal of Economics. - Blackwell Publishing, 1975. - 109(2007), 2, Seite 387-413 |
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| 1. Verfasser: | |
| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2007
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| Zugriff auf das übergeordnete Werk: | The Scandinavian Journal of Economics |
| Schlagworte: | Economic Growth Economic Development Economic History Institutions Geography O40 O10 N00 |
| Zusammenfassung: | Early states like China and India have been experiencing more rapid economic growth in recent decades. We show that more rapid growth by early starters has been the norm in economic history, and that the "reversal of fortune" associated with the European overseas expansion was both exceptional and temporary. Not only was the post-1500 reversal in the process of being reversed after 1960, but also the advantage conferred by early development in the latter period was considerably greater than the growth rate disadvantage that it conferred during 1500-1960, implying a rapid undoing of the first reversal. |
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| ISSN: | 14679442 |