The anatomy of start-stop growth

Benjamin Jones, Benjamin A. Olken

Research output: Contribution to journalArticlepeer-review

111 Scopus citations

Abstract

This paper investigates the remarkable extremes of growth experiences within countries and the changes that occur across growth transitions. We find two main results. First, virtually all but the very richest countries experience both growth miracles and failures over substantial periods. Second, growth accelerations and collapses are asymmetric phenomena. Collapses typically feature reduced investment amidst increasing price instability, whereas growth takeoffs are primarily associated with large expansions in international trade. The results show that even very poor countries regularly grow rapidly, but sustaining growth is difficult and may pose a very different set of challenges than starting it.

Original languageEnglish (US)
Pages (from-to)582-587
Number of pages6
JournalReview of Economics and Statistics
Volume90
Issue number3
DOIs
StatePublished - Aug 1 2008

ASJC Scopus subject areas

  • Social Sciences (miscellaneous)
  • Economics and Econometrics

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