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An Empirical Analysis of Current Economic Growth in Relation to Precolonial and Colonial Legacies

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  • DAE HYUNG WOO

    (Yonsei University)

  • JIN SEO CHO

    (Yonsei University)

Abstract

This paper examines the effects of precolonial and colonial legacies on the current economic growth rates of ex-colonies. Precolonial legacies have significant positive relationships with current economic growth rates, as well as high model explanatory power. In contrast, colonial legacies have ambivalent effects. Here, Neo-European countries have benefited from the dominant positive effects of their colonial legacy, but that Sub-Saharan African ex-colonies are dominated by negative effects. In the case of Korea, the overall effect of the colonial legacy is not substantially different from zero, and the country’s current high economic growth rate originates mainly from the precolonial legacy.

Suggested Citation

  • Dae Hyung Woo & Jin Seo Cho, 2023. "An Empirical Analysis of Current Economic Growth in Relation to Precolonial and Colonial Legacies," Working papers 2023rwp-218, Yonsei University, Yonsei Economics Research Institute.
    • Handle: RePEc:yon:wpaper:2023rwp-218
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    More about this item

    Keywords

    Precolonial legacy; positive and negative effects of colonial legacy; current economic growth rate; ex-colonies; Neo-European economic growth rate; Sub-Saharan African economic growth rate; Korean economic growth rate.;
    All these keywords.

    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General

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