of Sources Economic Growth: Some Conjectures
INTL 102: World Poverty January 25
Poverty and Inequality in a Global Context
The very long run (ie., c. 1800-2000 Total extreme poverty Total extreme poverty across regions Inequality within countries Down Down dramatically in Europe, US, Japan, Argentina, Aust-NZ Probably increasing but then falling in growth leaders "Divergence, Big Time" C. 1945-1980 Down Down in most developing countries C. 1980-2005 Down Uneven record, but with China and India showing large decreases Uneven,: advanced industrial and former socialist up; developing mixed Overall divergence, but with Asian exception Down Roughly constant or down but high
Unclear, probably no distinct trend
Inequality across countries Inequality across countries, weighted "True" world inequality
Relatively constant
Down Up dramatically, consequence of "divergence big time" Roughly constant or down but high
Outline
Growth: what is it anyway? How does growth affect the poor? What are the sources of growth over the long-run? And why do countries differ in their growth rates?
Gross Domestic Product
GDP: several ways to think about it Expenditure approach: total consumer, investment and government spending, plus exports minus imports Income approach: total income of all producers These methods yie...
INTL_102_1-25