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
5 - Institutions and Distribution
from Part II - Unified Growth Theory
Published online by Cambridge University Press: 11 August 2022
- 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 develops a simplified discrete-time version of Kremer's model (Kremer QJE 1993) aimed at explaining the existence of a transition from a stagnation regime (where GDP per capita remains constant despite continuous technological progress) to the modern growth regime (where GDP per capita grows continuously despite population growth). As such, this chapter provides a first illustration of what a Unified Growth Model can bring to the study of the long period. We also use that model to cast some light on the Industrial Revolution, and its particular timing and location in space.
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- The Economics of the Long Period , pp. 102 - 129Publisher: Cambridge University PressPrint publication year: 2022