IDEAS home Printed from https://ideas.repec.org/a/ush/jaessh/v4y2009i2(8)_summer200961.html
   My bibliography  Save this article

The Evolution Of Real Gdp Per Capita In Developed Countries

Author

Listed:
  • Ivan O. KITOV

Abstract

The growth rate of real GDP per capita is represented as a sum of two components � 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.

Suggested Citation

  • Ivan O. KITOV, 2009. "The Evolution Of Real Gdp Per Capita In Developed Countries," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 4(2(8)_ Sum).
  • Handle: RePEc:ush:jaessh:v:4:y:2009:i:2(8)_summer2009:61
    as

    Download full text from publisher

    File URL: http://www.jaes.reprograph.ro/articles/summer2009/KitovI.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. 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.
    2. Ivan Kitov, 2005. "GDP growth rate and population," Economics Bulletin, AccessEcon, vol. 28(9), pages 1.
    3. Kitov, Ivan, 2006. "The Japanese economy," MPRA Paper 2737, University Library of Munich, Germany.
    4. Durlauf, Steven N. & Johnson, Paul A. & Temple, Jonathan R.W., 2005. "Growth Econometrics," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 8, pages 555-677 Elsevier.
    5. 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 Elsevier.
    6. Galor, Oded, 2005. "From Stagnation to Growth: Unified Growth Theory," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 4, pages 171-293 Elsevier.
    7. Ivan Kitov, 2005. "Modelling the transition from a socialist to capitalist economic system," Economics Bulletin, AccessEcon, vol. 28(11), pages 1.
    8. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    9. repec:ebl:ecbull:v:28:y:2005:i:11:p:a0 is not listed on IDEAS
    10. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Decaying economic growth in EU as an economic argument for Brexit
      by Ivan Kitov in Economics as Classical Mechanics on 2016-05-10 18:32:00
    2. On the decaying rate of economic growth in the USA
      by Ivan Kitov in Economics as Classical Mechanics on 2016-05-10 16:21:00

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kitov, Ivan & Kitov, Oleg, 2011. "Employment, unemployment and real economic growth," MPRA Paper 32404, University Library of Munich, Germany.
    2. Ivan O. Kitov & Oleg I. Kitov, 2010. "S&P 500 returns revisited," Papers 1004.0213, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ush:jaessh:v:4:y:2009:i:2(8)_summer2009:61. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Laura Stefanescu). General contact details of provider: http://edirc.repec.org/data/fmuspro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.