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Unified growth theory was developed in light of the failure of endogenous growth theory to capture key empirical regularities in the growth processes and their contribution to the momentous rise in inequality across nations in the past two centuries. Unlike earlier growth theories that have focused entirely on the modern growth regime, unified growth theory captures the growth process over the entire course of human existence, highlighting the critical role of the differential timing of the transition from Malthusian stagnation to sustained economic growth in the emergence of inequality across countries and regions.

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  • Unified Growth Theory (de)
  • Théorie unifiée de la croissance (fr)
  • 統一成長理論 (ja)
  • Teoria unificada do crescimento económico (pt)
  • Unified growth theory (en)
  • Единая теория роста (ru)
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  • La théorie unifiée de la croissance est une théorie de la croissance économique qui explique la croissance par l'augmentation du capital humain. Elle est parfois considérée comme une théorie de la croissance endogène. Créé par Oded Galor en 2011, et fait partie des plus récentes tentatives d'explication endogène de la croissance. (fr)
  • 統一成長理論は、人類の歴史における経済成長の過程を統一的に説明することを目的としたマクロ経済学の理論である。らが提唱した。 (ja)
  • Единая теория роста (англ. Unified growth theory) — направление в теории экономического роста. Единая теория роста была разработана для преодоления недостатков теории эндогенного роста, её неспособности объяснить ряд эмпирических закономерностей экономического роста; в частности, для объяснения того, почему экономический рост привёл к увеличению неравенства между странами в последние два столетия. В отличие от более ранних теорий роста, которые полностью сфокусированы на современном режиме роста, единая теория роста анализирует процесс роста на протяжении всей человеческой истории, подчеркивая критическую роль, которую сыграл неодновременный переход разных стран от мальтузианской стагнации к устойчивому экономическому росту для возникновения глобального неравенства. (ru)
  • Die Unified Growth Theory (dt. Einheitliche Wachstumstheorie) ist eine von Oded Galor entwickelte Wachstumstheorie. Sie basiert auf der Kritik an vielen endogenen Wachstumstheorien, die langfristiges Wirtschaftswachstum erst für Perioden ab der industriellen Revolution erklären und/oder lediglich für die aktuellen westlichen Industrienationen gelten. Vor dieser Zeit gab es über tausende Jahre keinen langfristigen Wachstums-Trend (in Pro-Kopf-Größen, siehe Malthusianische Katastrophe). (de)
  • Unified growth theory was developed in light of the failure of endogenous growth theory to capture key empirical regularities in the growth processes and their contribution to the momentous rise in inequality across nations in the past two centuries. Unlike earlier growth theories that have focused entirely on the modern growth regime, unified growth theory captures the growth process over the entire course of human existence, highlighting the critical role of the differential timing of the transition from Malthusian stagnation to sustained economic growth in the emergence of inequality across countries and regions. (en)
  • A teoria unificada do crescimento económico foi desenvolvida para dar resposta à incapacidade da teoria endógena do crescimento económico de explicar regularidades empíricas importantes nos processos de crescimento das economias individuais e da economia mundial como um todo. A teoria endógena apenas dava conta das regularidades empíricas no processo de crescimento de economias desenvolvidas nos últimos cem anos. Deste modo, não conseguia explicar as regularidades empíricas qualitativamente diferentes que caracterizavam o processo de crescimento em maiores períodos de tempo quer em economias desenvolvidas, quer em economias menos desenvolvidas. As teorias unificadas do crescimento económico são teorias endógenas que estão em conformidade com todo o processo de desenvolvimento, em particula (pt)
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  • Die Unified Growth Theory (dt. Einheitliche Wachstumstheorie) ist eine von Oded Galor entwickelte Wachstumstheorie. Sie basiert auf der Kritik an vielen endogenen Wachstumstheorien, die langfristiges Wirtschaftswachstum erst für Perioden ab der industriellen Revolution erklären und/oder lediglich für die aktuellen westlichen Industrienationen gelten. Vor dieser Zeit gab es über tausende Jahre keinen langfristigen Wachstums-Trend (in Pro-Kopf-Größen, siehe Malthusianische Katastrophe). Die Unified Growth Theory versucht den Wachstumsprozess über alle Entwicklungsphasen der Menschheit in einem einzigen Modellrahmen zu erklären. Dabei ist insbesondere der demographische Übergang zu berücksichtigen. Dieser meint die historische Beobachtung, dass die Geburten- und Sterberaten in einem Land während seiner Entwicklung von einer vorindustriellen Gesellschaft zu einem Industriestaat sinken. (de)
  • La théorie unifiée de la croissance est une théorie de la croissance économique qui explique la croissance par l'augmentation du capital humain. Elle est parfois considérée comme une théorie de la croissance endogène. Créé par Oded Galor en 2011, et fait partie des plus récentes tentatives d'explication endogène de la croissance. (fr)
  • Unified growth theory was developed in light of the failure of endogenous growth theory to capture key empirical regularities in the growth processes and their contribution to the momentous rise in inequality across nations in the past two centuries. Unlike earlier growth theories that have focused entirely on the modern growth regime, unified growth theory captures the growth process over the entire course of human existence, highlighting the critical role of the differential timing of the transition from Malthusian stagnation to sustained economic growth in the emergence of inequality across countries and regions. Unified growth theory was first advanced by Oded Galor and his co-authors who were able to characterize in a single dynamical system a phase transition from an epoch of Malthusian stagnation to an era of sustained economic growth. Due to the evolution of latent state variables during the Malthusian epoch, the stable Malthusian equilibrium ultimately vanishes, and the system gradually converges to a modern growth steady-state equilibrium. The Malthusian steady-state equilibrium is characterized by slow pace of technological progress and population growth, where the potential impact of technological progress on the standard of living is offset in the long-run by population growth. In contrast, during the modern growth regime, technological progress triggers investment in human capital along with a fertility decline, further spurring technological progress, and permitting sustained growth in the standard of living. The theory captures the fundamental phases of the process of development: (i) the Malthusian epoch that was prevalent over most of human history, (ii) the escape from the Malthusian trap, (iii) the emergence of human capital as a central element in the growth process, (iv) the onset of the fertility decline, (v) the origins of the modern era of sustained economic growth, and (vi) the roots of divergence in income per capita across nations in the past two centuries. Unified growth theory suggests that during most of human existence, technological progress was offset by population growth, and living standards were near subsistence across time and space. However, the reinforcing interaction between the rate of technological progress and the size and composition of the population has gradually increased the pace of technological progress, enhancing the importance of education in the ability of individuals to adapt to the changing technological environment. The rise in the allocation of resources towards education triggered a fertility decline enabling economies to allocate a larger share of the fruits of technological progress to a steady increase in income per capita, rather than towards the growth of population, paving the way for the emergence of sustained economic growth. The theory further suggests that variations in biogeographical characteristics, as well as cultural and institutional characteristics, have generated a differential pace of transition from stagnation to growth across countries and consequently divergence in their income per capita over the past two centuries The testable predictions of the theory and its underlying mechanisms have been confirmed in empirical and quantitative research in the past decade, and have inspired intensive exploration of the impact of historical and pre-historical forces on comparative economic development and the disparity in the wealth of nations: (a) the positive long-run effect of technological progress on population growth, but not on income per capita, during the Malthusian epoch was confirmed based on data across countries; (b) the positive effect of technological progress on human capital formation in early phases on industrialization was confirmed based on data from England and France; (c) the effect of the rise in the demand for human capital on the fertility decline was confirmed based on the demographic transitions in China, England, France, Ireland, and Prussia; (d) the theory as a whole was explored quantitatively. In addition, Unified growth theory explores the interaction between the evolution of the composition of human traits and the growth process. In particular, it advances the hypothesis that evolutionary forces had a significant role in the evolution of the world economy from stagnation to growth. The theory suggests that the Malthusian pressure, via the forces of natural selection, have shaped the composition of the human population. Traits that were complementary to the technological environment generated higher level of income, and therefore higher reproductive success, and the gradual proliferation of these traits in the population contributed to the growth process and ultimately to the take-off from an epoch of stagnation to the modern era of sustained growth. The testable predictions of this evolutionary theory and its underlying mechanisms have been confirmed empirically and quantitatively. Unified growth theory contributes to Macrohistory. It sheds light on the divergence in income per capita across the globe during the past two centuries. It identifies the factors that have governed the transition from stagnation to growth and have thus contributed to the observed worldwide differences in economic development. It highlights the persistent effects that variations in historical and prehistorical conditions have had on the composition of human capital and economic development across countries. Finally, it uncovers the forces that have led to the emergence of convergence clubs. (en)
  • 統一成長理論は、人類の歴史における経済成長の過程を統一的に説明することを目的としたマクロ経済学の理論である。らが提唱した。 (ja)
  • A teoria unificada do crescimento económico foi desenvolvida para dar resposta à incapacidade da teoria endógena do crescimento económico de explicar regularidades empíricas importantes nos processos de crescimento das economias individuais e da economia mundial como um todo. A teoria endógena apenas dava conta das regularidades empíricas no processo de crescimento de economias desenvolvidas nos últimos cem anos. Deste modo, não conseguia explicar as regularidades empíricas qualitativamente diferentes que caracterizavam o processo de crescimento em maiores períodos de tempo quer em economias desenvolvidas, quer em economias menos desenvolvidas. As teorias unificadas do crescimento económico são teorias endógenas que estão em conformidade com todo o processo de desenvolvimento, em particular a transição da época da estagnação malthusiana, que caracterizou grande parte do processo de desenvolvimento, para a era contemporânea de crescimento económico sustentado. A teoria unificada do crescimento económico foi apresentada originalmente por Oded Galor e pelos seus coautores, que conseguiram caracterizar apenas num sistema dinâmico um equilíbrio malthusiano inicial estável que acaba por desaparecer endogenamente devido à evolução das condicionantes do estado latente de desenvolvimento. Este processo provoca uma retoma do crescimento de transição, até que o sistema entra gradualmente num equilíbrio estável de crescimento moderno. O período malthusiano caracteriza-se por um desenvolvimento tecnológico e um crescimento populacional lentos, onde os benefícios do primeiro são contrabalançados pelo segundo. No período moderno de crescimento, os progressos tecnológicos não incentivam o crescimento da população, mas sim a acumulação de capital, o que estimula ainda mais esses progressos. Esta teoria reúne em apenas um quadro analítico as características principais do processo de desenvolvimento: (i) a era da estagnação malthusiana que marcou grande parte da história humana, (ii) a fuga da armadilha malthusiana, (iii) a emergência da formação profissional do capital humano no processo de desenvolvimento, (iv) o início da transição demográfica, (v) as origens da era contemporânea de crescimento económico sustentado e (vi) a divergência do rendimento per capita entre os países. A teoria unificada sugere que a transição da estagnação para o crescimento foi uma consequência inevitável do processo de desenvolvimento. Esta teoria também defende que a relação malthusiana inerente entre o ritmo dos progressos tecnológicos e a dimensão e a composição populacional acelerava o ritmo dos progressos tecnológicos e acabaria por dar maior importância à formação profissional como forma de acompanhar o ambiente tecnológico em constante mudança. O aumento da procura de formação por parte das indústrias provocou reduções significativas nas taxas de fertilidade, o que fez com que as economias guardassem uma parte maior dos lucros provenientes da acumulação de fatores e dos progressos tecnológicos para investir no fomento da formação do capital humano e do rendimento per capita, abrindo o caminho para o crescimento económico sustentado. Esta teoria explora ainda a interação dinâmica entre a evolução humana e o processo de desenvolvimento económico, apresentando a hipótese de que as forças da seleção natural tiveram um papel primordial na evolução que a economia mundial sofreu, da estagnação para o crescimento. As pressões malthusianas agiram como um determinante fundamental na dimensão da população e, teoricamente, também moldaram a composição populacional através da seleção natural. As linhagens dos indivíduos cujos traços se relacionavam com o ambiente económico criaram maiores níveis de rendimento e, por conseguinte, um maior número de nados-vivos. O aumento gradual da representação dos seus traços na população contribuiu também para o processo de desenvolvimento e para o arranque da estagnação para o crescimento. A Teoria Unificada do Crescimento Económico esclarece a discrepância do rendimento per capita em todo o mundo nos últimos dois séculos; identifica os fatores que condicionaram a transição da estagnação para o crescimento e que, portanto, contribuíram para as diferenças do desenvolvimento económico que se podem constatar em todo o mundo; destaca os efeitos persistentes que as variações das condições históricas e pré-históricas tiveram na composição do capital humano e no desenvolvimento económico pelos países. Por fim, revela as forças que levaram ao surgimento de clubes de convergência. (pt)
  • Единая теория роста (англ. Unified growth theory) — направление в теории экономического роста. Единая теория роста была разработана для преодоления недостатков теории эндогенного роста, её неспособности объяснить ряд эмпирических закономерностей экономического роста; в частности, для объяснения того, почему экономический рост привёл к увеличению неравенства между странами в последние два столетия. В отличие от более ранних теорий роста, которые полностью сфокусированы на современном режиме роста, единая теория роста анализирует процесс роста на протяжении всей человеческой истории, подчеркивая критическую роль, которую сыграл неодновременный переход разных стран от мальтузианской стагнации к устойчивому экономическому росту для возникновения глобального неравенства. (ru)
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