The Slow Convergence Of Per Capita Income Between The Developing Countries

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The Slow Convergence of Per Capita Income Between the Developing Countries

Author : Gilles Dufrénot
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (837 download)

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Book Synopsis The Slow Convergence of Per Capita Income Between the Developing Countries by : Gilles Dufrénot

Download or read book The Slow Convergence of Per Capita Income Between the Developing Countries written by Gilles Dufrénot and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides empirical evidence that there is no absolute convergence between the GDP per capita of the developing countries since 1950. Relying upon recent econometric methodologies (nonstationary long-memory models, wavelet models and time-varying factor representation models), we show that the transition paths to long-run growth are very persistent over time and non-stationary, thereby yielding a variety of potential growth steady states (conditional convergence). Our findings do not support the idea according to which the developing countries share a common factor (such as technology) that eliminates growth divergence in the very long run. Instead, we conclude that growth is an idiosyncratic phenomenon that yields different forms of transitional economic performance: growth tragedy (some countries with an initial low level of per capita income diverge from the richest ones), growth resistance (with many countries experiencing a low speed of growth convergence), and rapid convergence. - growth convergence ; developing countries ; long memory ; wavelets ; time-varying factor models

The World Economy's Convergence of Per Capita Income

Author : Nake M. Kamrany
Publisher :
ISBN 13 : 9781935551270
Total Pages : 230 pages
Book Rating : 4.5/5 (512 download)

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Book Synopsis The World Economy's Convergence of Per Capita Income by : Nake M. Kamrany

Download or read book The World Economy's Convergence of Per Capita Income written by Nake M. Kamrany and published by . This book was released on 2010-01-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic growth and development theory and policy are undergoing major transitions. Empirically, the rapid per capita income convergence of many nations attests to a world economy that will defy the slow historic patterns of economic growth. After World War II, development economists divided the world into rich and poor countries, followed by the "twin peaks" notion that divided the world into three camps. The modern theory of per capita convergence asserts the end of poverty and the disappearance of income classification among nations at rapid rates. Since the 70s, some 2.9 billion people have graduated out of $1, $2, and $3 per day poverty income levels. The implications of this transformation are enormous. Nation states can reach prosperity in a matter of decades rather than centuries. World tension will diminish as rich countries seek alternatives to war for dispute resolution. At one point in time all nations were poor and there will be a point in time when all nations are rich. And finally, the world citizens will be the kings of international consumer sovereignty. Dr. Nake Kamrany, born in Kabul, Afghanistan, is an economics professor and Director of the Program in Law and Economics at the University of Southern California. His previous professional appointments include Massachusetts Institute of Technology, the World Bank, UCLA, and the Stanford Research Institute. He has served as advisor to the World Bank, UNDP, the governments of the United States, Ghana, Lebanon, the Philippines, Jamaica and the Sahel-Sudan countries of Africa. Dr. Kamrany's research has appeared in fifteen books and over 100 scientific-economic papers. His awards include "The Associate Award" at USC and research grants from the National Science Foundation, the Agency for International Development, the World Bank, the Advanced Research Project Agency and others. His recent research on the Global Economic Convergence Theory includes an analysis of per capita income performance of 126 countries and the prospects for less developed countries (LDCs) to catch up with developed countries within the 21st century. Georgi Vassilev, born in Plovdiv, Bulgaria, is a doctoral candidate in the Department of Economics at the University of Southern California. His research interests are in the area of International Macroeconomics and Finance. Currently he is working on hedging, using commodity futures subject to liquidity constraints.

Economic Convergence and Economic Policies

Author : Jeffrey Sachs
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Economic Convergence and Economic Policies by : Jeffrey Sachs

Download or read book Economic Convergence and Economic Policies written by Jeffrey Sachs and published by . This book was released on 1995 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the crucial debates in development economics are encapsulated in the question of economic convergence. Is there a tendency for the poorer countries to grow more rapidly than the richer countries, and thereby to converge in living standards? Some recent research on endogenous growth has emphasized increasing returns as a possible reason not to expect convergence. Other research has suggested that convergence may be achieved only after poor countries attain a threshold level of income or human capital. This paper presents evidence that a sufficient condition for higher-than-average growth of poorer countries, and therefore convergence, is that poorer countries follow reasonably efficient economic policies, mainly open trade and protection of private property rights.

Growth in Sub-Saharan Africa

Author : Mr.Dhaneshwar Ghura
Publisher : International Monetary Fund
ISBN 13 : 1451855753
Total Pages : 32 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Growth in Sub-Saharan Africa by : Mr.Dhaneshwar Ghura

Download or read book Growth in Sub-Saharan Africa written by Mr.Dhaneshwar Ghura and published by International Monetary Fund. This book was released on 1995-12-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.

Great Divergence and Great Convergence

Author : Leonid Grinin
Publisher : Springer
ISBN 13 : 331917780X
Total Pages : 261 pages
Book Rating : 4.3/5 (191 download)

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Book Synopsis Great Divergence and Great Convergence by : Leonid Grinin

Download or read book Great Divergence and Great Convergence written by Leonid Grinin and published by Springer. This book was released on 2015-05-09 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new monograph provides a stimulating new take on hotly contested topics in world modernization and the globalizing economy. It begins by situating what is called the Great Divergence--the social/technological revolution that led European nations to outpace the early dominance of Asia--in historical context over centuries. This is contrasted with an equally powerful Great Convergence, the recent economic and technological expansion taking place in Third World nations and characterized by narrowing inequity among nations. They are seen here as two phases of an inevitable global process, centuries in the making, with the potential for both positive and negative results. This sophisticated presentation examines: Why the developing world is growing more rapidly than the developed world. How this development began occurring under the Western world's radar. How former colonies of major powers grew to drive the world's economy. Why so many Western economists have been slow to recognize the Great Convergence. The increasing risk of geopolitical instability. Why the world is likely to find itself without an absolute leader after the end of the American hegemony A work of rare scope, Great Divergence and Great Convergence gives sociologists, global economists, demographers, and global historians a deeper understanding of the broader movement of social and economic history, combined with a long view of history as it is currently being made; it also offers some thrilling forecasts for global development in the forthcoming decades.

Openness and Economic Growth in Developing Countries

Author : Erich Gundlach
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Openness and Economic Growth in Developing Countries by : Erich Gundlach

Download or read book Openness and Economic Growth in Developing Countries written by Erich Gundlach and published by . This book was released on 1996 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

World Development Report 2009

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 082137608X
Total Pages : 410 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis World Development Report 2009 by : World Bank

Download or read book World Development Report 2009 written by World Bank and published by World Bank Publications. This book was released on 2008-11-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.

The Central and East European Population since 1850

Author : F. Rothenbacher
Publisher : Springer
ISBN 13 : 1137273909
Total Pages : 1523 pages
Book Rating : 4.1/5 (372 download)

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Book Synopsis The Central and East European Population since 1850 by : F. Rothenbacher

Download or read book The Central and East European Population since 1850 written by F. Rothenbacher and published by Springer. This book was released on 2016-04-30 with total page 1523 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the third volume of three on demographics. All major fields of demographic change are covered. Population figures are given for each population census by sex, civil status and age. Major demographic developments within the family are described providing a commentary on the main population structures and trends.

The European Economy 1914-1990

Author : Derek Aldcroft
Publisher : Routledge
ISBN 13 : 113487412X
Total Pages : 378 pages
Book Rating : 4.1/5 (348 download)

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Book Synopsis The European Economy 1914-1990 by : Derek Aldcroft

Download or read book The European Economy 1914-1990 written by Derek Aldcroft and published by Routledge. This book was released on 1993-05-27 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of The European Economy 1914-1980 has been up-dated and revised to take account of the decade 1980-90 and, as such, covers some of the most dramatic and profound economic events of the twentieth century. The European Economy 1914-1990 includes two additional chapters, one dealing with the Western European economies, and in particul

Testing Catching-Up Between the Developing Countries

Author : Gilles Dufrénot
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Testing Catching-Up Between the Developing Countries by : Gilles Dufrénot

Download or read book Testing Catching-Up Between the Developing Countries written by Gilles Dufrénot and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides empirical evidence that there is no convergence between the GDP per-capita of the developing countries since 1950. Relying upon recent econometric methodologies (non-stationary long-memory models, wavelet models and time-varying factor representation models), we show that the transition paths to long-run growth (the catch-up dynamics) are very persistent over time and non-stationary, thereby yielding a variety of potential steady states (conditional convergence). Our findings do not support the idea according to which the developing countries share a common factor (such as technology) that eliminates per-capita output divergence in the very long run. Instead, we conclude that growth is an idiosyncratic phenomenon that yields different forms of transitional economic performance: growth tragedy (some countries with an initial low level of per-capita income diverge from the richest ones), growth resistance (with many countries experiencing a low speed of growth convergence), and rapid convergence.

Hunger in the Contemporary World

Author : Amartya Sen
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (6 download)

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Book Synopsis Hunger in the Contemporary World by : Amartya Sen

Download or read book Hunger in the Contemporary World written by Amartya Sen and published by . This book was released on 1997 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Forging Ahead, Falling Behind

Author : Open Media Research Institute
Publisher : M.E. Sharpe
ISBN 13 : 9781563249259
Total Pages : 454 pages
Book Rating : 4.2/5 (492 download)

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Book Synopsis Forging Ahead, Falling Behind by : Open Media Research Institute

Download or read book Forging Ahead, Falling Behind written by Open Media Research Institute and published by M.E. Sharpe. This book was released on 1997 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second annual survey by the Open Media Research Institute presents some 100 contributions on political developments in the 27 countries of the former socialist bloc. Sections on individual countries include a map, key statistics, brief discussions of domestic and foreign policy issues, excerpts from important documents, and profiles of major personalities. Some contributors provide general articles on regional economic developments and the processes involved with building democratic institutions. Annotation copyrighted by Book News, Inc., Portland, OR

Growth Slowdowns and the Middle-Income Trap

Author : Mr.Shekhar Aiyar
Publisher : International Monetary Fund
ISBN 13 : 1484315804
Total Pages : 64 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Growth Slowdowns and the Middle-Income Trap by : Mr.Shekhar Aiyar

Download or read book Growth Slowdowns and the Middle-Income Trap written by Mr.Shekhar Aiyar and published by International Monetary Fund. This book was released on 2013-03-20 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The “middle-income trap” is the phenomenon of hitherto rapidly growing economies stagnating at middle-income levels and failing to graduate into the ranks of high-income countries. In this study we examine the middle-income trap as a special case of growth slowdowns, which are identified as large sudden and sustained deviations from the growth path predicted by a basic conditional convergence framework. We then examine their determinants by means of probit regressions, looking into the role of institutions, demography, infrastructure, the macroeconomic environment, output structure and trade structure. Two variants of Bayesian Model Averaging are used as robustness checks. The results—including some that indeed speak to the special status of middle-income countries—are then used to derive policy implications, with a particular focus on Asian economies.

Global Productivity

Author : Alistair Dieppe
Publisher : World Bank Publications
ISBN 13 : 1464816093
Total Pages : 552 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Productivity by : Alistair Dieppe

Download or read book Global Productivity written by Alistair Dieppe and published by World Bank Publications. This book was released on 2021-06-09 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD

The Butterfly Defect

Author : Ian Goldin
Publisher : Princeton University Press
ISBN 13 : 0691168423
Total Pages : 320 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Butterfly Defect by : Ian Goldin

Download or read book The Butterfly Defect written by Ian Goldin and published by Princeton University Press. This book was released on 2015-10-20 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to better manage systemic risks—from cyber attacks and pandemics to financial crises and climate change—in a globalized world The Butterfly Defect addresses the widening gap between the new systemic risks generated by globalization and their effective management. It shows how the dynamics of turbo-charged globalization has the potential and power to destabilize our societies. Drawing on the latest insights from a wide variety of disciplines, Ian Goldin and Mike Mariathasan provide practical guidance for how governments, businesses, and individuals can better manage globalization and risk. Goldin and Mariathasan demonstrate that systemic risk issues are now endemic everywhere—in supply chains, pandemics, infrastructure, ecology and climate change, economics, and politics. Unless we address these concerns, they will lead to greater protectionism, xenophobia, nationalism, and, inevitably, deglobalization, rising inequality, conflict, and slower growth. The Butterfly Defect shows that mitigating uncertainty and risk in an interconnected world is an essential task for our future.

World Economic Outlook, May 2000

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 9781557759368
Total Pages : 308 pages
Book Rating : 4.7/5 (593 download)

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Book Synopsis World Economic Outlook, May 2000 by : International Monetary Fund. Research Dept.

Download or read book World Economic Outlook, May 2000 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2000-04-12 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Economic Outlook, published twica a year in English, French, Spanish, and Arabic, presents IMF staff economists analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Finance & Development, March 2012

Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451922140
Total Pages : 60 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Finance & Development, March 2012 by : International Monetary Fund. External Relations Dept.

Download or read book Finance & Development, March 2012 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2012-03-14 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young people, hardest hit by the global economic downturn, are speaking out and demanding change. F&D looks at the need to urgently address the challenges facing youth and create opportunities for them. Harvard professor David Bloom lays out the scope of the problem and emphasizes the importance of listening to young people in "Youth in the Balance." "Making the Grade" looks at how to teach today's young people what they need to get jobs. IMF Deputy Managing Director, Nemat Shafik shares her take on the social and economic consequences of youth unemployment in our "Straight Talk" column. "Scarred Generation" looks at the effects the global economic crisis had on young workers in advanced economies, and we hear directly from young people across the globe in "Voices of Youth." Renminbi's rise, financial system regulation, and boosting GDP by empowering women. Also in the magazine, we examine the rise of the Chinese currency, look at the role of the credit rating agencies, discuss how to boost the empowerment of women, and present our primer on macroprudential regulation, seen as increasingly important to financial stability. People in economics - C. Fred Bergsten, American Globalist. Back to basics - The multi-dimensional role of banks in our financial systems.