What Explains Comparative Long-run Growth Performance?with Stephen Broadberry
Theme 1 is concerned with explaining comparative long run growth performance. This involves the analysis of long run shifts of competitive advantage, such as the growing importance of China in the world economy, and also coping with short run shocks such as the 2008 economic crisis.
Shifts of economic leadership have been relatively rare over the last thousand years, and have been drawn out over longer periods of time than most policy makers normally take into consideration. Economic history is therefore an essential part of this theme, which seeks to draw lessons from the success stories of economic development in the past for developing countries today. Building on and extending existing datasets constructed by CAGE researchers, Theme 1’s research agenda focuses on competing explanations of the underlying or fundamental sources of growth performance, including geography, institutions and schooling.
Historical analysis can also be used to inform debates over relevant policies for dealing with the 2008 crisis. Theme 1 research will draw on analysis of the crisis of the 1930s to consider reforms that may be needed to restore growth in the western world and sustain catch-up growth in developing countries.