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The World Economy

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  • Ed Jones

Abstract

The World Economy has grown for 57 out of the past 58 years, only the great recession of 2009 saw an interruption in over half a century of continuous growth. Over the whole of the last 5 decades, annual real GDP growth has averaged 3.2%, and 1.6% in per capita terms. Global Real GDP split by continent illustrates that the share of the world’s GDP in the Asian region grew considerably faster than all other continents, from 16.8% in 1960 to 47.0% in 2017. The wealth of Europe and the Americas remains considerably higher compared with Asian and African continents.

Suggested Citation

  • Ed Jones, 2018. "The World Economy," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 19(1), pages 141-150, January.
    • Handle: RePEc:wej:wldecn:701
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    File URL: https://www.worldeconomics.com/Journal/Papers/Article.details?ID=701
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    Cited by:

    1. Christopher J. Boudreaux & Niklas Elert & Magnus Henrekson & David S. Lucas, 2022. "Entrepreneurial accessibility, eudaimonic well-being, and inequality," Small Business Economics, Springer, vol. 59(3), pages 1061-1079, October.
    2. Sugata Marjit & Gouranga Gopal Das, 2022. "Finance, Trade, Man and Machines: A New-Ricardian Heckscher-Ohlin-Samuelson Model," CESifo Working Paper Series 9672, CESifo.

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