The International Volatility of Growth

Alaistar Chan and Kenneth Clements
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Alaistar Chan: UWA Business School, The University of Western Australia

No 07-10, Economics Discussion / Working Papers from The University of Western Australia, Department of Economics

Abstract: Growth in the world economy is not shared equally among all countries, with some growing faster, some slower and some not at all. The cross-country distribution of growth is a useful tool for analysing the inequality of growth. The appropriately-weighted first moment of this distribution is world growth, while the second measures cross-country volatility. This paper introduces a methodology to examine the cross-country distribution of growth, and the components of its volatility. Using data from the Penn World Table, we find countries within geographic regions are seeing a harmonisation of growth, but between regions there is increasing dispersion.

Keywords: Growth; Cross-Country Distribution; Volatility (search for similar items in EconPapers)
Pages: 36 pages
Date: 2007
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Citations: View citations in EconPapers (2)

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