Book contents
- The Economics of the Long Period
- The Economics of the Long Period
- Copyright page
- Contents
- Figures
- Tables
- Introduction
- Part I The Long Period
- Part II Unified Growth Theory
- 3 The Stagnation Regime
- 4 The Economic Take-Off
- 5 Institutions and Distribution
- 6 The Natural Environment
- Part III Unified Growth Theory
- References
- Index
3 - The Stagnation Regime
from Part II - Unified Growth Theory
Published online by Cambridge University Press: 11 August 2022
Book contents
- The Economics of the Long Period
- The Economics of the Long Period
- Copyright page
- Contents
- Figures
- Tables
- Introduction
- Part I The Long Period
- Part II Unified Growth Theory
- 3 The Stagnation Regime
- 4 The Economic Take-Off
- 5 Institutions and Distribution
- 6 The Natural Environment
- Part III Unified Growth Theory
- References
- Index
Summary
This chapter provides some major stylized facts for the economic analysis of the long period, by focusing on statistical series of GDP, population size and GDP per capita for the last two millenia. The structural break observed in the GDP per capita series is presented as a major challenge for existing economic theories of the long period. How could one explain both a long period of stagnation and, then, an economic take-off followed by sustained growth?
Keywords
- Type
- Chapter
- Information
- The Economics of the Long Period , pp. 51 - 78Publisher: Cambridge University PressPrint publication year: 2022