Aizenman, Joshua; Spiegel, Mark - 2007
This paper identifies factors associated with takeoff - a sustained period of high growth following a period of …. Countries that experience takeoffs average 2.3% annual growth following their stagnation episodes, while those that do not … average 0% growth; 46% of the takeoffs are sustained," i.e. lasting 8 years or longer. Using probit estimation, we find that …