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Keynote speech to Recovery, Renewal, Rebuilding – a Federal Reserve Conference Series, Los Angeles, CA, July 15, 2008
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This paper identifies factors associated with takeoff--a sustained period of high growth following a period of stagnation. We examine a panel of 241 "stagnation episodes" from 146 countries, 54% of these episodes are followed by takeoffs. Countries that experience takeoffs average 2.3% annual...
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Presentation to the California Chamber of Commerce, San Francisco, CA, December 2, 2005
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