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Economic Transformation, Population Growth, and the Long-Run World Income Distribution

Author/Editor: Chamon, Marcos | Kremer, Michael
Authorized for Distribution: January 1, 2006
Electronic Access: Free Full Text (PDF file size is 450KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: This paper considers the long-run evolution of the world economy in a model where countries' opportunities to develop depend on their trade with advanced economies. As developing countries become advanced, they further improve trade opportunities for the remaining developing countries. Whether or not the world economy converges to widespread prosperity depends on the population growth differential between developing and advanced economies, the rate at which countries develop, and potentially on initial conditions. A calibration using historical data suggests that the long-run prospects for lagging developing regions, such as Africa, likely hinge on the sufficiently rapid development of China and India.
 
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Series: Working Paper No. 06/21
Subject(s): Development | Economic growth | Economic models | Income distribution | International trade | Population
Author's keyword(s): Population | growth | econocmi development | international trade
 
English  
    Published:   January 1, 2006        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2006021   Pages:   21
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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