Do country characteristics matter for economic growth among the developed countries?

Do long-run growth rates among the developed countries (DCs) depend on country characteristics, or is there on overall long-run growth pattern that dominates the effects of country differences? This paper empirically tests this question. The test involves regressing the pooled sample of their growth rates on dummy variables for the various countries. The test uses Maddison 1991] that provides data for annual estimates for real per capita product for 16 DCs from 1870–1989. Regressors were added for relative per capita product, the time trends of growth, and unusual time periods. The results suggest that country characteristics explain very little of the differences in growth rates. General factors, the tendency of lower per capita developed countries to grow faster, and the time patterns of growth among the DCs explain much more of the differences in growth rates.