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Article: Do country characteristics matter for economic growth among the developed countries?
- Article from:
- Atlantic Economic Journal
- Article date:
- June 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Atlantic Economic Society. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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I. Introduction
Almost everyone inside and outside of the economics profession believes that the characteristics of individual countries make a large difference in their economic growth. In contrast, there is growing literature on the determinants of economic growth that is usually based on the concept of a general growth pattern which applies to virtually all countries. Differences in growth rates by this approach are due to differences in the level of variables which affect all countries in similar fashion - world economic conditions, initial level of per capita product, and so on.
Over the time spans for which quantitative data were obtained, there is ...