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Growth Rates Of Per-Capita Income And Aggregate Welfare: An International Comparison

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  • Nanak Kakwani

Abstract

This paper is concerned with the measurement of aggregate growth rates, where the aggregation is over time. The paper demonstrates that any mechanical procedures for computing aggregate growth rate has welfare implications, and value judgments implicit in various commonly used procedures are not appealing. A new procedure suggested in the paper captures all the essential properties of a welfare function. The methodology of the paper is applied to an analysis of growth rates of per capita GNP of 83 developing countries during the 1970-1987 period. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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  • Nanak Kakwani, 1997. "Growth Rates Of Per-Capita Income And Aggregate Welfare: An International Comparison," The Review of Economics and Statistics, MIT Press, vol. 79(2), pages 201-211, May.
    • Handle: RePEc:tpr:restat:v:79:y:1997:i:2:p:201-211
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    Cited by:

    1. D., Ivan, 2017. "Stability of the labour shares: evidence from OECD economies," MPRA Paper 79822, University Library of Munich, Germany.
    2. Jungeilges, Jochen & Kirchgassner, Gebhard, 2002. "Economic welfare, civil liberty, and suicide: an empirical investigation," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 31(3), pages 215-231.
    3. Suri, Tavneet & Boozer, Michael A. & Ranis, Gustav & Stewart, Frances, 2011. "Paths to Success: The Relationship Between Human Development and Economic Growth," World Development, Elsevier, vol. 39(4), pages 506-522, April.
    4. Andrés Rodríguez-Pose & Vassilis Tselios, 2015. "Toward Inclusive Growth," International Regional Science Review, , vol. 38(1), pages 30-60, January.
    5. Atanu Sengupta & Jadab chandra Bhattacharya & Manabendu Chattopadhyay, 2004. "Agricultural Growth and Welfare: A Study on Indian States," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 5(1), pages 103-130, March.
    6. Galip Altinay, 2004. "On measuring average growth rate," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 637-644.
    7. Fabio Monteiro Vaz & Marcelo Neri & Nanak Kakwani, 2016. "Growth And Shared Prosperity In Brazil," Anais do XLII Encontro Nacional de Economia [Proceedings of the 42nd Brazilian Economics Meeting] 212, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    8. Son, Hyun Hwa, 2011. "A Welfare-Based Approach to Aggregating Growth Rates across Countries," ADB Economics Working Paper Series 248, Asian Development Bank.
    9. Ivan D. Trofimov, 2019. "Stability of Labour Shares: Evidence from OECD Economies," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 17(1), pages 57-89.
    10. Ravallion, Martin & Chen, Shaohua, 2003. "Measuring pro-poor growth," Economics Letters, Elsevier, vol. 78(1), pages 93-99, January.
    11. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
    12. Son, Hyun, 2009. "Equity in Health and Health Care in the Philippines," ADB Economics Working Paper Series 171, Asian Development Bank.
    13. Jaqueson K. Galimberti, 2009. "A proxy-variable search procedure," Economics Bulletin, AccessEcon, vol. 29(4), pages 2531-2541.

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