Globalization and Growth in the Twentieth Century

76 Pages Posted: 30 Jan 2006

See all articles by Nicholas Crafts

Nicholas Crafts

University of Warwick; Centre for Economic Policy Research (CEPR)

Date Written: March 2000

Abstract

This paper reviews the experience of economic growth during the twentieth century with a view to highlighting implications for both growth economists and policy-makers. The unprecedented divergence in income levels between the OECD economies and many developing countries is documented but so too is a more optimistic picture of widespread progress in terms of the Human Development Index. Various aspects of the changes in economic structure are explored in terms of their implications for growth performance both in retrospect and prospect. The possibility that the growth process will lead to another globalization backlash reminiscent of the 1930s is analyzed.

Keywords: Growth, convergence, globalization

JEL Classification: N10, F43, O10

Suggested Citation

Crafts, Nicholas, Globalization and Growth in the Twentieth Century (March 2000). IMF Working Paper No. 00/44, Available at SSRN: https://ssrn.com/abstract=879431

Nicholas Crafts (Contact Author)

University of Warwick ( email )

Gibbet Hill Rd.
Coventry, West Midlands CV4 8UW
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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