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Copy file name to clipboardExpand all lines: lectures/long_run_growth.md
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## Overview
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In this lecture we use Python, [pandas](https://pandas.pydata.org/), and [Matplotlib](https://matplotlib.org/) to download, organize, and visualize historical data on economic growth.
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In this lecture we use Python, {doc}`pandas<pyprog:pandas>`, and {doc}`Matplotlib<pyprog:matplotlib>` to download, organize, and visualize historical data on economic growth.
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In addition to learning how to deploy these tools more generally, we'll use them to describe facts about economic growth experiences across many countries over several centuries.
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Such "growth facts" are interesting for a variety of reasons.
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Explaining growth facts is a principal purpose of both "development economics" and "economic history".
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And growth facts are important inputs into historians' studies of geopolitical forces and dynamics.
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And growth facts are important inputs into historians' studies of geopolitical forces and dynamics.
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Thus, Adam Tooze's account of the geopolitical precedents and antecedents of World War I begins by describing how the Gross Domestic Products (GDP) of European Great Powers had evolved during the 70 years preceding 1914 (see chapter 1 of {cite}`Tooze_2014`).
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In a nutshell, this lecture records growth trajectories of various countries over long time periods.
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While some countries have experienced longterm rapid growth across that has lasted a hundred years, others have not.
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While some countries have experienced long-term rapid growth across that has lasted a hundred years, others have not.
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Since populations differ across countries and vary within a country over time, it will
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be interesting to describe both total GDP and GDP per capita as it evolves within a country.
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A project initiated by [Angus Maddison](https://en.wikipedia.org/wiki/Angus_Maddison) has collected many historical time series related to economic growth,
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some dating back to the first century.
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The data can be downloaded from the [Maddison Historical Statistics webpage](https://www.rug.nl/ggdc/historicaldevelopment/maddison/) by clicking on the "Latest Maddison Project Release".
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The data can be downloaded from the [Maddison Historical Statistics](https://www.rug.nl/ggdc/historicaldevelopment/maddison/) by clicking on the "Latest Maddison Project Release".
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We are going to read the data from a QuantEcon GitHub repository.
It is tempting to compare this graph with figure {numref}`gdp1` that showed the US overtaking the UK near the start of the "American Century", a version of the graph featured in chapter 1 of {cite}`Tooze_2014`.
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It is tempting to compare this graph with figure {numref}`gdp1` that showed the US overtaking the UK near the start of the "American Century", a version of the graph featured in chapter 1 of {cite}`Tooze_2014`.
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