The Problem of the Catch-Up Effect and Post-Crises Economic Growth in the World Leading Countries

Bulletin of the Georgian National Academy of Sciences, Vol. 10, No. 4, pp. 97-104, 2015

12 Pages Posted: 22 Dec 2016

See all articles by Vladimer Papava

Vladimer Papava

Ivane Javakhishvili Tbilisi State University

Date Written: 2015

Abstract

The direct comparisons of economic growth by countries are not constructive due to the catch-up effect. For measuring the economic development of different countries, the indicators of appropriate gross domestic products per capita are used. The paper proposes the hypothesis of proportional overlap for the catch-up effect. The paper also contains proof of an invariance theorem. After the adjustment for the catch-up effect of the economic growth ratios, the World leading countries in economic growth are Australia, the U.S., Canada and Saudi Arabia.

Keywords: Economic Growth, Catch-Up Effect, G20 Countries, Economic Development

JEL Classification: O47, O57

Suggested Citation

Papava, Vladimer, The Problem of the Catch-Up Effect and Post-Crises Economic Growth in the World Leading Countries (2015). Bulletin of the Georgian National Academy of Sciences, Vol. 10, No. 4, pp. 97-104, 2015. Available at SSRN: https://ssrn.com/abstract=2886866

Vladimer Papava (Contact Author)

Ivane Javakhishvili Tbilisi State University ( email )

1, Ilia Tchavtchavadze avenue
Tbilisi, Tbilisi 0179
Georgia
+995 32 222-0241 (Phone)
+995 32 222-5107 (Fax)

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