Alaistar Chan (UWA Business School, The University of Western Australia) Kenneth W. Clements (UWA Business School, The University of Western Australia)
Abstract
Growth in the world economy is not shared equally among all countries, with some growing faster, some slower and some not at all. The cross-country distribution of growth is a useful tool for analysing the inequality of growth. The appropriately-weighted first moment of this distribution is world growth, while the second measures cross-country volatility. This paper introduces a methodology to examine the cross-country distribution of growth, and the components of its volatility. Using data from the Penn World Table, we find countries within geographic regions are seeing a harmonisation of growth, but between regions there is increasing dispersion.
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Publisher Info
Paper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number
07-10.
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