American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Learning from the Doers: Developing Country Lessons for Advanced Economy Growth
American Economic Review
vol. 104,
no. 5, May 2014
(pp. 260–65)
Abstract
From 1980 to 1992, emerging and developing countries grew by 3.4 percent per year. Their annual rate of growth increased to 5.4 percent between 1993 and 2012. No such increase occurred for advanced nations, whose average growth from 1980 to 2012 was roughly constant (excluding the impact of the 2008–2009 Recession). Developing nations turned themselves around by embracing discipline-sustained commitment to a pragmatic and flexible growth strategy. Three illustrations of discipline through the lens of trade, fiscal, and debt reforms in the developing world offer relevant, practical lessons for recovery in advanced economies and continued catch-up growth in developing nations.Citation
Chari, Anusha, and Peter Blair Henry. 2014. "Learning from the Doers: Developing Country Lessons for Advanced Economy Growth." American Economic Review, 104 (5): 260–65. DOI: 10.1257/aer.104.5.260Additional Materials
JEL Classification
- D83 Search; Learning; Information and Knowledge; Communication; Belief
- E32 Business Fluctuations; Cycles
- E62 Fiscal Policy
- G01 Financial Crises
- O11 Macroeconomic Analyses of Economic Development
- O23 Fiscal and Monetary Policy in Development
- O47 Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence