Friday, July 29, 2016
Romer pits Han against hind
Over the same interval, 1980-2011, the average growth rate of GDP per capita for all of Chinese was 5.8% per year. It started at about $1500 (again, in the purchasing power of dollars in 2005). By 2011, it had increased nearly six-fold to $8900. Compare its experience in India’s. In 1980, GDP per capita started at about $1100. Over the same interval, its growth averaged 4.1%, which raised GDP per capita to $4000, for an increase by a factor of 3.6. The difference between 5.8% and 4.1% seems small compared to the difference between an increase by a factor of 6.0 instead of 3.6.
Posted by Owen Paine at 9:23 AM