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Lec06handout - Production and Growth Slide#06 Intro Macro 1...

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Production and Growth Slide #06 July 13 2010 Intro Macro 1
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Economic Growth Around the World Real GDP per person Living standard Vary widely from country to country Growth rate How rapidly real GDP per person grew in the typical year Because of differences in growth rates Ranking of countries by income changes substantially over time Intro Macro 2
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The variety of growth experiences 1 3 Country Period Real GDP per person at beginning of period Real GDP per person at end of period Growth rate (per year) Japan Brazil China Mexico Germany Canada Argentina United States India United Kingdom Indonesia Bangladesh Pakistan 1890 2006 1900 2006 1900 2006 1900 2006 1870 2006 1870 2006 1900 2006 1870 2006 1900 2006 1870 2006 1900 2006 1900 2006 1900 2006 $1,408 729 670 1,085 2,045 2,224 2,147 3,752 632 4,502 834 583 690 $33,150 8,880 7,740 11,410 31,830 34,610 15,390 44,260 3,800 35,580 3,950 2,340 2,500 2.76% 2.39 2.34 2.24 2.04 2.04 1.88 1.83 1.71 1.53 1.48 1.32 1.22
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