This paper, divided into seven sections, considers the development of economic growth theory in light of the … World War II and the increasing economic gap between OECD and Third World nations. Section 3, "The Asian Miracle," describes …, "The Impact of the Asian Economic Miracle on Growth Theory," focuses on the theorizing about the likely impact of the …

We analyze an economy where managers engage both in the adaptation of technologies from the world frontier and in … investments, but little selection. Closer to the world technology frontier, there is a switch to innovation-based strategy with …. However, societies that cannot switch out of the investment-based strategy fail to converge to the world technology frontier …

A unified growth theory is developed that accounts for the roughly constant living standards displayed by world … economies prior to 1800 as well as the growing living standards exhibited by modern industrial economies. Our theory also …