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

Chari, Anusha; Henry, Peter Blair

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

NBER Working Paper No. w19934

14 Pages Posted: 3 Mar 2014 Last revised: 21 Jun 2026

See all articles by Anusha Chari

Anusha Chari

University of North Carolina (UNC) at Chapel Hill - Department of Economics; National Bureau of Economic Research (NBER); University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School; Centre for Economic Policy Research (CEPR)

Peter Blair Henry

New York University (NYU) - Leonard N. Stern School of Business; National Bureau of Economic Research (NBER); NYU Stern Department of Finance

There are 2 versions of this paper

Date Written: February 2014

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.

Suggested Citation: Suggested Citation

Chari, Anusha and Henry, Peter Blair, Learning From the Doers: Developing Country Lessons for Advanced Economy Growth (February 2014). NBER Working Paper No. w19934, Available at SSRN: https://ssrn.com/abstract=2403658