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THE GOLDEN-AGE OF ECONOMIC-GROWTH IN WESTERN-EUROPE, 1950-1973

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Abstract

Ideas from recent work in growth economics are considered in the context of the historical experience of Europe after the Second World War. The episode is revealed as one of extraordinarily rapid catch-up based on an investment boom and enhanced social capability for growth. It is suggested that more research is needed on the measurement of human capital and the role of institutions in influencing rates of return on investments. The disappointing British growth performance is examined briefly and it is argued that current growth models are suggestive of interesting new ways of understanding this outcome

Topics: HC, D, H
Publisher: BLACKWELL PUBL LTD
OAI identifier: oai:wrap.warwick.ac.uk:19540
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