Immiserizing Growth: An Empirical Evaluation
This paper examines the empirical validity of immiserizing growth in a consistent manner. A straightforward test for immiserizing growth is constructed by using the revealed preference framework of welfare evaluation, together with macroeconomic growth data. We identify 34 episodes of immiserizing growth in the post-war world economy, mostly in Africa and Latin America. This suggests the existence of large distortions that outweigh the gains from growth.
|Date of creation:||Jul 2003|
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- Jagdish Bhagwati & Arvind Panagariya & T. N. Srinivasan, 1998. "Lectures on International Trade, 2nd Edition," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522470.
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- Sen, Amartya, 1979. "The Welfare Basis of Real Income Comparisons: A Survey," Journal of Economic Literature, American Economic Association, vol. 17(1), pages 1-45, March.
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