While Korea remains one of the fastest-growing OECD economies, its potential growth rate per capita is projected to decelerate from around 4% during the current decade to around 2¼ per cent during the 2030s. Sustaining growth requires policies to mitigate the impact of rapid population ageing...

Total factor productivity plays an important role in the growth of the economy. Using recently available state level data over 1993 and 2005, we find widespread regional variation in productivity changes. In the beginning of the liberalization era, improvement in technical efficiency contributes...

This chapter reviews the literature that tries to explain the disparity and variation of GDP per worker and GDP per capita across countries and across time. There are many potential explanations for the different patterns of development across countries, including differences in luck, raw...

This paper surveys the experience of economic growth in the 20th century with a focus on technological change at the frontier together with issues related to success and failure in catch-up growth. A detailed account of growth performance based on historical national accounts data is given and...

Empirical tests in the 1990s found little evidence of poor countries catching up with rich - unconditional convergence - since the 1960s, and divergence over longer periods. This stylized fact spurred several developments in growth theory, including AK models, poverty trap models, and the...

This study investigates the economic growth and catch-up of the Republic of Korea over the past half-century. The gap of output per worker between the Republic of Korea and United States has decreased rapidly, as the Republic of Korea's lower per capita income, relative to its potential level,...

This paper explores the dynamics of income and poverty of rural Indian households, 1994-2005. The estimation strategy consists of convergence analysis to test whether poor households are catching-up in terms of income, followed by transition analysis to test whether poor households are more...

Following Bai (2004) and Bai and Ng (2004) we estimate a common factor representation of a panel of output series for India, disaggregated by 15 states and 14 broad industry groups. We find that a single common "V-Factor" accounts for a large part of the significant shift in the cross-sectional...

This paper deals with the hypothesis that natural resources are important in forming convergence clubs. We check this hypothesis by applying a dependence and an endowment measure of natural resource abundance and a regression tree analysis. The results indicate that for the Kazakh regions...

The paper looks at the latest evidence of what has been happening to regional disparities in per capita income (measured as Gross State Domestic Product per capita) in India over the first decade of the twenty first century (1999/00 to 2010/11) by estimating cross section equations for...