Kitov, Ivan (2006): Real GDP per capita in developed countries.
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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.
|Item Type:||MPRA Paper|
|Original Title:||Real GDP per capita in developed countries|
|Keywords:||economic development; economic trend; business cycle; GDP per capita|
|Subjects:||O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development
O - Economic Development, Technological Change, and Growth > O5 - Economywide Country Studies > O51 - U.S.; Canada
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
|Depositing User:||Ivan Kitov|
|Date Deposited:||06. Apr 2009 00:56|
|Last Modified:||12. Feb 2013 09:21|
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Real GDP per capita in developed countries. (deposited 15. Apr 2007)
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