Mancur Olson has suggested that the rate of economic growth declines as stable polities grow older, a proposition he tested using data from the United States in the 1960s. We reexamine Olson's hypothesis, using a large panel data set covering the twentieth century in the U.S.
Does Economic Sclerosis Set in With Age? An Empirical Study of the Olson HypothesisWallace E. Oates and John Joseph Wallis ,
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