How Political Economies Change: The Evolution of Growth Regimes in the Developed Democracies. Peter A. Hall, March 2015, Paper. "This paper characterizes and explains the evolution of growth regimes in the developed democracies, understood as the public policies and firm strategies used to secure economic growth, with an emphasis on government policy in the decades after 1950. The argument is that growth regimes change in response to political as well as economic challenges. I identify three significant shifts in economic challenges associated with eras of modernization, liberalization and knowledge-based growth..."