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.
Similar content being viewed by others
Notes
- 1.
- 2.
The demand for education increased from the end of the period.
- 3.
By less developed countries, we mean Latin America, Asia, and Africa.
- 4.
About 0.6 in France, 0.8 in UK, and 0.7 in Western Europe.
- 5.
The term was coined first by Galor (2005).
- 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.
Within the framework of the neoclassical growth model with endogenous fertility, the authors attempt to determine the optimal population growth rate.
- 8.
Tamura (1994) finds the same result.
- 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.
Notably the pioneering work of Jacob Mincer (1962) that contributed to the development of economic analysis of the household.
References
Aghion P, Howitt P (1992) A model of growth through creative destruction. Econometrica 60:323–351
Barro RJ (1990) Economic growth in a cross section of countries. Q J Econ 106(2):407–443
Barro RJ, Becker GS (1989) Fertility choice in a model of economic growth. Econometrica 57:481–501
Barro RJ, Sala-i-Martin Barro X (1997) Technological diffusion, convergence, and growth. J Econ Growth 2(1):1–26
Becker GS (1960) An economic analysis of fertility. In: Becker GS (ed) Demographic and economic change in developed countries. Princeton University Press, Princeton, pp 209–240
Becker GS (1965) A theory of the allocation of time. Econ J 75:493–517
Becker GS, Murphy KM, Tamura R (1990) Human capital, fertility, and economic growth. J Polit Econ 98:12–37
Becker SO, Cinnirella F, Woessmann L (2012) The effect of investment in children’s education on fertility in 1816 Prussia. Cliometrica 6:29–44
Boserup E (1965) The conditions of economic growth. Aldine, Chicago
Boserup E (1981) Population and technological change. University of Chicago Press, Chicago
Cervellati M, Sunde U (2005) Human capital formation, life expectancy and the process of development. Am Econ Rev 95:1653–1672
Chesnais JC (1992) The demographic transition: stages, patterns, and economic implications. Clarendon, Oxford
Chiappori PA (1992) Collective labor supply and welfare. J Polit Econ 100:437–467
Clark G (2005) Human capital, fertility and industrial revolution. J Eur Econ Assoc 3(2–3):505–515
Dahan M, Tsiddon D (1998) Demographic transition, income distribution, and economic growth. J Econ Growth 3:29–52
De La Croix D, Vander Donckt M (2010) Would empowering women initiate the demographic transition in least-developed countries? J Hum Cap 4:85–129
Diebolt C (2012) The cliometric voice. Hist Econ Ideas 20(3):51–61
Diebolt C, Perrin F (2013a) From stagnation to sustained growth: the role of female empowerment. Am Econ Rev Pap Proc 103(3):545–549
Diebolt C, Perrin F (2013b) From stagnation to sustained growth: the role of female empowerment. AFC working paper, WP2013-4
Doepke M (2004) Accounting for fertility decline during the transition to growth. J Econ Growth 9:347–383
Doepke M, Tertilt M (2009) Women’s liberation: what’s in it for men? Q J Econ 124(4):1541–1591
Dollar D, Gatti R (1999) Gender inequality, income and growth: are good times good for women? Policy research report on gender and development working paper series, n 1. The World Bank, Washington, DC
Ehrlich I, Lui FT (1991) Inter-generational trade, longevity, and economic growth. J Polit Econ 99:1059–1129
Falcão BL, Soares RR (2008) The demographic transition and the sexual division of labor. J Polit Econ 116(6):1058–1104
Folbre N (1994) Children as public goods. Am Econ Rev 84(2):86–90
Galor O (2005) From stagnation to growth: unified growth theory. In: Aghion P, Durlauf SN (eds) Handbook of economic growth, vol 1A. North Holland, Amsterdam, pp 171–293
Galor O (2011) Unified growth theory. Princeton University Press, Princeton
Galor O (2012) The demographic transition: causes and consequences. Cliometrica 6:494–504
Galor O, Moav O (2002) Natural selection and the origin of economic growth. Q J Econ 117:1133–1191
Galor O, Weil DN (1996) The gender gap, fertility, and growth. Am Econ Rev 86:374–387
Galor O, Weil DN (1999) From Malthusian stagnation to modern growth. Am Econ Rev 89:150–154
Galor O, Weil DN (2000) Population, technology, and growth: from Malthusian stagnation to the demographic transition and beyond. Am Econ Rev 90:806–828
Goldin C (2006) The quiet revolution that transformed women’s employment, education, and family. National Bureau of Economic Research, working paper no 11953
Grossman G, Helpman E (1991) Trade, knowledge spillovers, and growth. Eur Econ Rev 35(2):517–526
Hansen GD, Prescott EC (2002) Malthus to Solow. Am Econ Rev 92:1205–1217
Iyigun MF (2000) Timing of childbearing and economic growth. J Dev Econ 61:255–269
Iyigun MF, Walsh RP (2007) Endogenous gender power, household labor supply and the demographic transition. J Dev Econ 82:138–155
Jones CI (2001) Was an industrial revolution inevitable? Economic growth over the very long run. Adv Macroecon 1:1–43
Kaldor N (1963) Capital accumulation and economic growth. In: Lutz FA, Hague DC (eds) Proceedings of a conference held by the international economics association. Macmillan, London
Klasen S (2002) Low schooling for girls, slower growth for all? Cross-country evidence on the effect of gender equality in education on economic development. World Bank Econ Rev 16:345–373
Klemp M (2012) Price, wages and fertility in pre-industrial England. Cliometrica 6:63–78
Knowles S, Lorgelly PK, Owen PD (2002) Are education gender gaps a brake on economic development? Some cross-country empirical evidence. Oxford Econ Pap 54(1):118–149
Lagerlöf NP (2003) Gender equality and long-run growth. J Econ Growth 8:403–426
Leroy-Beaulieu P (1913) La question de la population. F. Alcan, Paris
Lucas RE (1988) On the mechanics of economic development. J Monet Econ 22:3–42
Lucas RE (2002) Lectures on economic growth. Harvard University Press, Cambridge, MA
Lundberg S, Pollak RA (1993) Separate spheres bargaining and the marriage market. J Polit Econ 101(6):988–1010
Maddison A (2008) Statistics on world population, GDP and per capita GDP, 1-2008 AD. http://www.ggdc.net/maddison/Maddison.htm
Malthus TR (First published 1798, this edition 1992) Essai sur le principe de population, 2 Vols., GF-Flammarion, Paris
Manser M, Brown M (1980) Marriage and household decision-making: a bargaining analysis. Int Econ Rev 21(1):31–44
Mincer J (1962) Labor force participation of married women: a study of labor supply. In: Lewis HG (ed) Aspects of labor economics. Princeton University Press, Princeton, pp 63–97
Moav O (2005) Cheap children and the persistence of poverty. Econ J 115(500):88–110
Nerlove M (1974) Toward a new theory of population and economic growth. J Polit Econ 84:200–216
Ramsey FP (1928) A mathematical theory of saving. Econ J 38(152):543–559
Razin A, Ben-Zion U (1975) An intergenerational model of population growth. Am Econ Rev 65:923–933
Ricardo D (First published 1817, English edition of 1821, this edition 1992) Des principes de l’économie politique et de l’impôt, GF-Flammarion, Paris
Romer P (1986) Increasing returns and long-run growth. J Polit Econ 94:1002–1037
Romer P (1990) Endogenous technological change. J Polit Econ 98:S71–S102
Schultz TP (1995) Investments in schooling and health of women and men: quantities and returns. In: Schultz TP (ed) Investment in women’s human capital. University of Chicago Press, Chicago
Schumpeter JA (1934) The theory of economic development. Harvard University Press, Cambridge
Smith A (First published 1776, this edition 1991) Recherches sur la nature et les causes de la richesse des nations, 2 Vols., GF-Flammarion, Paris
Solow RM (1956) A contribution to the theory of economic growth. Q J Econ 70:65–94
Srinivasan TN (1988) Population growth and economic development. J Policy Model 10:7–28
Strulik H, Weisdorf J (2008) Population, food, and knowledge: a simple unified growth theory. J Econ Growth 13:195–216
Swan TW (1956) Economic growth and capital accumulation. Econ Rec 32(2):334–361
Tamura R (1994) Fertility, human capital and the wealth of families. Econ Theory 4:593–603
Tamura R (1996) From decay to growth: a demographic transition to economic growth. J Econ Dyn Control 20:1237–1261
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2014 Springer-Verlag Berlin Heidelberg
About this entry
Cite this entry
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
Download citation
DOI: https://doi.org/10.1007/978-3-642-40458-0_3-1
Received:
Accepted:
Published:
Publisher Name: Springer, Berlin, Heidelberg
Online ISBN: 978-3-642-40458-0
eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences
Publish with us
Chapter history
-
Latest
Cliometrics of Growth- Published:
- 25 July 2023
DOI: https://doi.org/10.1007/978-3-642-40458-0_3-2
-
Original
Growth Theories- Published:
- 15 April 2014
DOI: https://doi.org/10.1007/978-3-642-40458-0_3-1