Based on required growth rate and actual growth rate, this paper proposes a method to construct measures to indicate the probability of a country escaping the middle income trap (MIT). A second contribution of this paper is to model this probability using 1960–2015 cross-country data, focusing...

This paper explains the pattern and determinants of economic growth of major Indian states during the period of 1960-2008. Particularly, the study analyses the growth pattern of Tamil Nadu and also intra-state growth pattern. The inter-state and intra-state differentials are analyzed with the...

This paper studies the impact of inequality in capital and land distribution on the pace of industrialization, thereby explaining the role of wealth inequality in the Great Divergence phenomenon. We build a two-sector unified growth model, in which the outcome of public policy contest between...

What is a good reduced-form representation of Ramsey-Cass-Koopmans. (RCK) model? Solow's model (despite non-optimizing agents) provides predictions largely consistent with a closed-economy RCK but fundamentally differs regarding open-economy income convergence. Where RCK predicts partial income...