Hidden Bibliographic Details
| Other authors / contributors: | Kremer, Michael, 1964- author.
International Monetary Fund. Research Department.
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| ISBN: | 1283512238
9781283512237
9781451908176
1451908172
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| Digital file characteristics: | text file
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| Notes: | Includes bibliographical references.
Print version record.
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| 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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| Standard no.: | 10.5089/9781451908176.001
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