| Original language | English (US) |
|---|---|
| Title of host publication | The New Palgrave Dictionary of Economics |
| Editors | Steven Durlauf, Lawrence E Blume |
| Publisher | Palgrave Macmillan |
| ISBN (Electronic) | 978-1-349-58802-2 |
| ISBN (Print) | 978-0-333-78676-5 |
| State | Published - 2008 |
Abstract
Following a phase of near-constant living standards lasting from Stone Age until the onset of the Industrial Revolution, a large number of countries have experienced growth takeoffs, in which stagnation gives way to sustained economic growth. What causes some countries to enter a growth takeoff while others remain poor? We discuss three mechanisms that can trigger a growth takeoff in a country previously trapped in poverty: fertility decline, structural change, and accelerating technological progress.
