Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/80103 
Authors: 
Year of Publication: 
2007
Series/Report no.: 
Working Paper No. 2007-08
Publisher: 
Brown University, Department of Economics, Providence, RI
Abstract: 
Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in a Malthusian regime, fast growing countries in a sustained growth regime, and economies in the transition between these regimes. In contrast to existing research that links regime switching thresholds to critical levels of income or human capital, UGT associates them with critical changes in the rates of technological progress, population growth, and human capital formation.
Subjects: 
unified growth theory
Malthusian epoch
sustained growth
convergence clubs
demographic transition
JEL: 
O40
Document Type: 
Working Paper

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