The Empirics of Economic Growth Over Time and Across Nations: A Unified Growth Perspective

Matteo Cervellati, Gerrit Meyerheim and Uwe Sunde
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Gerrit Meyerheim: LMU Munich

No 339, Rationality and Competition Discussion Paper Series from CRC TRR 190 Rationality and Competition

Abstract: This research develops an expanded unified growth theory that incorporates the endogenous accumulation of physical capital, population, human capital, and technology. The model incorporates a complementarity between physical capital and human capital and can be extended to a multi-country setting with international technology diffusion. The analytical characterization of the mechanisms behind the observed patterns of long-run growth and comparative development delivers a consistent explanation for a large set of seemingly unrelated empirical facts. A quantitative multi-country version of the model matches various empirical regularities of long-run growth dynamics and comparative development patterns that have previously been studied in isolation. The findings also shed new light on the role of the demographic transition for convergence patterns, the specification of cross-country growth regressions, technology spillovers, and the secular stagnation debate.

Keywords: unified growth; long-run development; demographic transition; secular stagnation (search for similar items in EconPapers)
JEL-codes: E24 O11 O15 O47 (search for similar items in EconPapers)
Date: 2022-09-29
New Economics Papers: this item is included in nep-gro, nep-knm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Related works:
Journal Article: The empirics of economic growth over time and across nations: a unified growth perspective (2023)
Working Paper: The Empirics of Economic Growth Over Time and Across Nations: A Unified Growth Perspective (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:rco:dpaper:339

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