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Handbook of Cliometrics pp 1–17Cite as

Growth Theories

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Abstract

This chapter lays the theoretical foundations of long-run economic growth. After providing an overview of the three fundamental regimes that have characterized the process of development over the course of human history on the basis of the seminal work of Galor and Weil (2000), we review existing theories offering explanations of the different stages of development. In particular, we examine the predictions and underlying mechanisms of the traditional theories of economic growth and the theories of demographic transitions. We then show the relevance of the Unified Growth Theory to explain and capture the underlying mechanisms of the development process. Finally, we highlight the importance of integrating a gendered perspective in the study of long-run economic growth.

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Notes

  1. 1.

    The seminal work of Galor and Weil was quickly followed by new contributions, including Jones (2001), Lucas (2002), Hansen and Prescott (2002), Galor and Moav (2002), Doepke (2004), Galor (2005), Cervellati and Sunde (2005), Strulik and Weisdorf (2008), among others.

  2. 2.

    The demand for education increased from the end of the period.

  3. 3.

    By less developed countries, we mean Latin America, Asia, and Africa.

  4. 4.

    About 0.6 in France, 0.8 in UK, and 0.7 in Western Europe.

  5. 5.

    The term was coined first by Galor (2005).

  6. 6.

    Ironically, the etymology of “economics” is derived from the Greek oîkos (house, dwelling) and nómos (law, custom) and refers to the art of properly administrating one’s home.

  7. 7.

    Within the framework of the neoclassical growth model with endogenous fertility, the authors attempt to determine the optimal population growth rate.

  8. 8.

    Tamura (1994) finds the same result.

  9. 9.

    In this paper, the authors do not focus on economic development and leave aside the question of how changes in gender heterogeneity may affect long-run growth.

  10. 10.

    Notably the pioneering work of Jacob Mincer (1962) that contributed to the development of economic analysis of the household.

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Authors and Affiliations

  1. BETA/CNRS, University of Strasbourg Institute for Advanced Study, Strasbourg, France

    Claude Diebolt & Faustine Perrin

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  1. Claude Diebolt
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  2. Faustine Perrin
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Correspondence to Claude Diebolt .

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  1. BETA/CNRS (UMR 7522), University of Strasbourg Institute for Advanced Study, Strasbourg Cedex, France

    Claude Diebolt

  2. University of Wisconsin Department of Economics, La Crosse, Wisconsin, USA

    Michael Haupert

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Diebolt, C., Perrin, F. (2014). Growth Theories. In: Diebolt, C., Haupert, M. (eds) Handbook of Cliometrics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-40458-0_3-1

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Chapter history

  1. Latest

    Cliometrics of Growth
    Published:
    25 July 2023

    DOI: https://doi.org/10.1007/978-3-642-40458-0_3-2

  2. Original

    Growth Theories
    Published:
    15 April 2014

    DOI: https://doi.org/10.1007/978-3-642-40458-0_3-1

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