ECON 325 Chapter Notes -Statics, Selection Bias, Infant Mortality
12 Feb 2014
School
Department
Course
Professor
Document Summary
Robert e. lucas jr. , why doesn"t capital flow from rich to poor countries? aer. Martin feldstein and charles horioka, domestic savings and international capital. A contribution to the empirics of economic growth, . Quarterly journal of economics 107 (2), 1992, 407-437. Little growth in per-capita output before the industrial revolution: technological progress and productivity gains translated into population growth rather than output growth; most people attained little more than subsistence income throughout most of human history. Average growth in gdp per capita: 0% in western europe and india during the first millenium, 0. 14% in western europe and 0. 02% in india between 1000 and 1820. Population growth was similarly 0% during the first millenium and 0. 2% in western. Europe and 0. 13% in india between 1000 and 1820 [maddison, 2001]. World population grew on average less than 0. 1% per year between 1 and 1750 [livi-baci, A concise history of world population, blackwell, 1997].
