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Normal and Abnormal Country Growth Behavior: Country Classification and Ranking

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  • William R. DiPietro

    (Daemen College)

Abstract

It is common to classify human behavior as normal or abnormal, but, what about economic behavior? What is a normal growth path for an economy over time? What is an erratic or eccentric growth path? In order to address these basic or primordial questions, eight possible growth states are defined. The countries in the world are classified into these growth states in each of six five-year periods beginning in 1967 and ending in 1996. Provided all the data is available, the results yield a growth path for every country with a total of five transitions from state to state. Employing the data further, conditional relative frequencies of going from one state to another are computed. The conditional relative frequencies are then used to rate the chances of a country walking down its own particular observed state growth path. Countries growth paths are then ranked from normal to abnormal for the entire thirty years based on these ratings.

Suggested Citation

  • William R. DiPietro, 2001. "Normal and Abnormal Country Growth Behavior: Country Classification and Ranking," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 26(1), pages 83-101, June.
    • Handle: RePEc:jed:journl:v:26:y:2001:i:1:p:83-101
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    References listed on IDEAS

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    1. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 407-443.
    2. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
    3. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 681-712.
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