The Evolution Of Real Gdp Per Capita In Developed Countries
AbstractThe growth rate of real GDP per capita is represented as a sum of two components ï¿½ a monotonically decreasing economic trend and fluctuations related to the change in some specific age population. The economic trend is modeled by an inverse function of real GDP per capita with a constant numerator. Statistical analysis data from 19 selected OECD countries for the period between 1950 and 2007 shows a very weak linear trend in the annual increment of GDP per capita for the largest economies: the USA, Japan, France, and Italy. The UK, Australia, and Canada show a larger positive linear trend in annual increments. The fluctuations around relevant mean increments are characterized by practically normal distribution (with Levy tails). Developing countries demonstrate annual GDP per capita increments far below those for the studied developed economies. This indicates an underperformance in spite of large relative growth rates.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Spiru Haret University, Faculty of Financial Management and Accounting Craiova in its journal Journal of Applied Economic Sciences.
Volume (Year): 4 (2009)
Issue (Month): 2(8)_ Summer 2009 ()
Contact details of provider:
Web page: http://www2.spiruharet.ro/facultati/facultate.php?id=14
More information through EDIRC
economic development; economic trend; business cycle; GDP per capita;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ivan O. Kitov, 2006.
"GDP growth rate and population,"
42, ECINEQ, Society for the Study of Economic Inequality.
- Durlauf,S.N. & Johnson,P.A. & Temple,J.R.W., 2004.
18, Wisconsin Madison - Social Systems.
- Johnson, Paul & Durlauf, Steven N & Temple, Johnathan R. W., 2004. "Growth Econometrics," Vassar College Department of Economics Working Paper Series 61, Vassar College Department of Economics.
- Ivan O. Kitov, 2008.
"Modeling the evolution of age-dependent Gini coefficient for personal incomes in the U.S. between 1967 and 2005,"
95, ECINEQ, Society for the Study of Economic Inequality.
- Kitov, Ivan, 2008. "Modeling the evolution of age-dependent Gini coefficient for personal incomes in the U.S. between 1967 and 2005," MPRA Paper 10107, University Library of Munich, Germany.
- Kydland, Finn E & Prescott, Edward C, 1982.
"Time to Build and Aggregate Fluctuations,"
Econometric Society, vol. 50(6), pages 1345-70, November.
- Finn E. Kydland & Edward C. Prescott, 1982. "Executable program for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4, Quantitative Macroeconomics & Real Business Cycles.
- Finn E. Kydland & Edward C. Prescott, 1982. "Web interface for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4a, Quantitative Macroeconomics & Real Business Cycles.
- Jones, Charles I., 2005.
"Growth and Ideas,"
Handbook of Economic Growth,
in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 16, pages 1063-1111
- Galor, Oded, 2004.
"From Stagnation to Growth: Unified Growth Theory,"
CEPR Discussion Papers
4581, C.E.P.R. Discussion Papers.
- Ivan Kitov, 2005.
"Modelling the transition from a socialist to capitalist economic system,"
AccessEcon, vol. 28(11), pages A0.
- Kitov, Ivan, 2005. "Modelling the transition from a socialist to capitalist economic system," MPRA Paper 2740, University Library of Munich, Germany.
- Ivan O. Kitov, 2008. "Modelling the transition from a socialist to capitalist economic system," Papers 0811.1182, arXiv.org.
- Ivan Kitov, 2007. "Modeling the Transition from a Socialist to Capitalist Economic System," Mechonomics mechonomics9, Socionet.
- repec:ebl:ecbull:v:28:y:2005:i:11:p:a0 is not listed on IDEAS
- Ivan Kitov, 2007.
"The Japanese Economy,"
- Jones, Larry E. & Manuelli, Rodolfo E., 2005. "Neoclassical Models of Endogenous Growth: The Effects of Fiscal Policy, Innovation and Fluctuations," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 1, pages 13-65 Elsevier.
- Kitov, Ivan & Kitov, Oleg, 2011.
"Employment, unemployment and real economic growth,"
32404, University Library of Munich, Germany.
- Ivan O. Kitov & Oleg I. Kitov, 2010.
"S&P 500 returns revisited,"
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Laura Stefanescu).
If references are entirely missing, you can add them using this form.