Multiple Growth Regimes Insights from Unified Growth Theory

8 Pages Posted: 30 May 2008

See all articles by Oded Galor

Oded Galor

Brown University - Department of Economics; Centre for Economic Policy Research (CEPR)

Date Written: August 2007

Abstract

Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in a Malthusian regime, fast growing countries in a sustained growth regime, and economies in the transition between these regimes. In contrast to existing research that links regime switching thresholds to critical levels of income or human capital, UGT associates them with critical changes in the rates of technological progress, population growth, and human capital formation.

Keywords: convergence clubs, Malthusian epoch, sustained growth, unified growth theory

JEL Classification: O40

Suggested Citation

Galor, Oded, Multiple Growth Regimes Insights from Unified Growth Theory (August 2007). , Vol. , pp. -, 2007. Available at SSRN: https://ssrn.com/abstract=1138540

Oded Galor (Contact Author)

Brown University - Department of Economics ( email )

Providence, RI 02912
United States

HOME PAGE: http://www.econ.brown.edu/fac/Oded_Galor/

Centre for Economic Policy Research (CEPR)

London
United Kingdom

HOME PAGE: http://www.econ.brown.edu/fac/Oded_Galor/

Register to save articles to
your library

Register

Paper statistics

Downloads
2
Abstract Views
343
PlumX Metrics