The International Volatility of Growth
AbstractGrowth 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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Bibliographic InfoPaper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 07-10.
Length: 36 pages
Date of creation: 2007
Date of revision:
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Growth; Cross-Country Distribution; Volatility;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-06-23 (All new papers)
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