What Have We Learned from a Decade of Empirical Research on Growth? Comment on `It's Not Factor Accumulation: Stylized Facts and Growth Models,` by William Easterly and Ross Levine

Posted: 29 Feb 2008

See all articles by Paul M. Romer

Paul M. Romer

National Bureau of Economic Research (NBER)

Date Written: August 2001

Abstract

When economists in the 1950s and 1960s used growth models to understand the experience of developing countries, they allowed for the possibility of technology differences between developing countries and the United States. But because they did not have a good theory for talking about the forces that determined the level of the technology-in the United States any more than in developing countries-technology factors tended to be pushed into the background in policy discussions.

Suggested Citation

Romer, Paul M., What Have We Learned from a Decade of Empirical Research on Growth? Comment on `It's Not Factor Accumulation: Stylized Facts and Growth Models,` by William Easterly and Ross Levine (August 2001). World Bank Economic Review, Vol. 15, Issue 2, pp. 225-227, 2001, Available at SSRN: https://ssrn.com/abstract=916800

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