This Handbook visually presents the dynamics of the growth experiences of 125 countries. These graphs highlight that economic growth is both dynamic and episodic and that many countries have experienced very different growth phases. The timing and magnitude of ‘breaks’ or ‘episodes’ or ‘regime transitions’ for all 125 countries are identified using a standard statistical procedure. This view of economic growth as transitions across growth phases suggests the need to move beyond current approaches to studying growth, and that a ‘third generation’ of theoretical models and empirical methods needs to be developed to understand what determines economic growth.
Sabyasachi Kar; Pritchett, L.; Selim Raihan; Kunal Sen. The Dynamics of Economic Growth: A Visual Handbook of Growth Rates, Regimes, Transitions and Volatility. (2013) 296 pp.