Are we rich?

One of the stories of economic growth is that we are much richer today than we were in the past. That is based on measure of GDP and GDP per capita. How do you measure GDP and GDP per capita, and what does growth in those terms actually mean? Is GDP per capita related to actual welfare, or is it a poor proxy? Can we compare how rich one country is to another, or compare how rich we are to the past? Should we care about economic growth at all?

Blog Posts

External Links



  1. 2017.   Heidi L. Williams.   "How Do Patents Affect Research Investments?". National Bureau of Economic Research, Inc   Link
  2. 2017.   Stephen Broadberry and John Joseph Wallis.   "Growing, Shrinking, and Long Run Economic Performance, Historical Perspectives on Economic Development". National Bureau of Economic Research   Link
  3. 2016.   Tom S. Vogl.   "Differential Fertility, Human Capital, and Development".   Review of Economic Studies, 83(1):365-401.   Link
  4. 2016.   David Lagakos.   "Explaining Cross-Country Productivity Differences in Retail Trade".   Journal of Political Economy, 124(2):579-620.   Link
  5. 2016.   Dani Rodrik.   "Premature deindustrialization".   Journal of Economic Growth, 21(1):1-33.   Link
  6. 2016.   Robert J. Gordon.   The Rise and Fall of American Growth. Princeton University Press   Link
  7. 2015.   Robert C. Feenstra and Robert Inklaar and Marcel P. Timmer.   "The Next Generation of the Penn World Table".   American Economic Review, 105(10):3150-82.   Link
  8. 2015.   Alex Tabarrok and Nathan Goldschlag.   "Is Regulation to Blame for the Decline in American Entrepreneurship?". George Mason University Working Paper   Link
  9. 2014.   Margaret McMillan and Dani Rodrik and {\'I}{\~n}igo Verduzco-Gallo.   "Globalization, Structural Change, and Productivity Growth, with an Update on Africa".   World Development, 63:11 - 32.   Link
  10. 2013.   Rodrik, Dani.   "Unconditional Convergence in Manufacturing".   Quarterly Journal of Economics, 128(1):165-204.
  11. 2013.   Eberhardt, Markus and Francis Teal.   "No Mangos in the Tundra, Spatial Heterogeneity in Agricultural Productivity Analysis".   Oxford Bulletin of Economics and Statistics, 75(6):914-939.
  12. 2013.   Markus Eberhardt and Francis Teal.   "Structural Change and Cross-Country Growth Empirics".   World Bank Economic Review, 27(2):229-271.   Link
  13. 2013.   Markus Eberhardt and Christian Helmers and Hubert Strauss.   "Do Spillovers Matter When Estimating Private Returns to R\&D?".   The Review of Economics and Statistics, 95(2):436-448.   Link
  14. 2013.   Gennaioli, Nicola and La Porta, Rafael and Lopez-de-Silanes, Florencio and Shleifer, Andrei.   "Human Capital and Regional Development".   Quarterly Journal of Economics, 128(1):105-164.
  15. 2012.   Alwyn Young.   "The African Growth Miracle".   Journal of Political Economy, 120(4):696-739.   Link
  16. 2012.   Richard H. Steckel and William J. White.   "Engines of Growth, Farm Tractors and Twentieth-Century U.S. Economic Welfare". National Bureau of Economic Research, Inc   Link
  17. 2012.   William J. Baumol.   The Cost Disease, Why Computers Get Cheaper but Healthcare Doesn't. Yale University Press
  18. 2012.   Almas, Ingvild.   "International Income Inequality, Measuring PPP Bias by Estimating Engel Curves for Food".   American Economic Review, 102(2):1093-1117.   Link
  19. 2011.   Posch, Olaf and W{\"a}lde, Klaus.   "On the link between volatility and growth".   Journal of Economic Growth, 16:285-308.   Link
  20. 2011.   Syverson, Chad.   "What Determines Productivity?".   Journal of Economic Literature, 49(2):326-365.
  21. 2010.   Putterman, Louis and Weil, David N..   "Post-1500 Population Flows and the Long-Run Determinants of Economic Growth and Inequality".   Quarterly Journal of Economics, 125(4):1627--1682.
  22. 2010.   Hsieh, Chang-Tai and Klenow, Peter J..   "Development accounting".   American Economic Journal, Macroeconomics, 2(1):207--223.
  23. 2010.   Angus Deaton and Alan Heston.   "Understanding PPPs and PPP-based National Accounts".   American Economic Journal, Macroeconomics, 2(4):1-35.
  24. 2009.   Wilson, Daniel J..   "IT and Beyond, The Contribution of Heterogeneous Capital to Productivity".   Journal of Business \& Economic Statistics, 27:52-70.   Link
  25. 2009.   Heston, Alan and Summers, Robert and Aten, Bettina.   "Penn World Table Version 6.3". Center for International Comparisons of Production, Income, and Prices at the University of Pennsylvania
  26. 2009.   Manuelli, Rodolfo and Seshadri, Ananth.   "Explaining International Fertility Differences".   Quarterly Journal of Economics, 124(2):771--807.   Link
  27. 2009.   Ciccone, Antonio and Papaioannou, Elias.   "Human Capital, the Structure of Production, and Growth".   The Review of Economics and Statistics, 91(1):pp. 66-82.   Link
  28. 2007.   Weil, David N..   "Accounting for the Effect of Health on Economic Growth".   The Quarterly Journal of Economics, 122(3):pp. 1265-1306.   Link
  29. 2007.   Hsieh, Chang-Tai and Klenow, Peter J..   "Relative Prices and Relative Prosperity".   The American Economic Review, 97(3):562-585.   Link
  30. 2007.   Beck, Thorsten and Demirg{\"u}{\c c}-Kunt, Asli and Levine, Ross.   "Finance, inequality and the poor".   Journal of Economic Growth, 12:27-49.   Link
  31. 2006.   Sala-i-Martin, Xavier.   "The World Distribution of Income, Falling Poverty and... Convergence, Period".   The Quarterly Journal of Economics, 121(2):351-397.   Link
  32. 2006.   Sala-i-Martin, Xavier.   "The World Distribution of Income, Falling Poverty and... Convergence, Period".   The Quarterly Journal of Economics, 121(2):351-397.   Link
  33. 2005.   Clark, Gregory.   "The Condition of the Working Class in England, 1209--2004".   Journal of Political Economy, 113(6):1307-1340.   Link
  34. 2005.   Durlauf, Steven and Paul A. Johnson and Jonathan R. W. Temple.   "Growth Econometrics".   Handbook of Economic Growth.
  35. 2005.   Caselli, Francesco.   "Accounting for Cross-Country Income Differences".   Handbook of Economic Growth.
  36. 2004.   Sala-i-Martin, Xavier and Doppelhofer, Gernot and Miller, Ronald I..   "Determinants of Long-Term Growth, A Bayesian Averaging of Classical Estimates (BACE) Approach".   The American Economic Review, 94(4):813-835.   Link
  37. 2003.   Imbs, Jean and Wacziarg, Romain.   "Stages of Diversification".   The American Economic Review, 93(1):pp. 63-86.   Link
  38. 2002.   Vamvakidis, Athanasios.   "How Robust Is the Growth-Openness Connection? Historical Evidence".   Journal of Economic Growth, 7(1):57-80.   Link
  39. 2002.   Hsieh, Chang-Tai.   "What Explains the Industrial Revolution in East Asia? Evidence from the Factor Markets".   The American Economic Review, 92(3):502-526.   Link
  40. 2002.   Gollin, Douglas.   "Getting Income Shares Right".   Journal of Political Economy, 110(2).
  41. 1999.   Rodrik, Dani.   "Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses".   Journal of Economic Growth, 4(4):385-412.
  42. 1999.   Hall, Robert and Charles I. Jones.   "Why Do Some Countries Produce So Much More Output per Worker than Others?".   Quarterly Journal of Economics, 114(1):83-116.
  43. 1998.   Levine, Ross and Zervos, Sara.   "Stock Markets, Banks, and Economic Growth".   The American Economic Review, 88(3):pp. 537-558.   Link
  44. 1998.   Rajan, Raghuram G. and Zingales, Luigi.   "Financial Dependence and Growth".   The American Economic Review, 88(3):pp. 559-586.   Link
  45. 1997.   Sala-i-Martin, Xavier.   "I Just Ran Two Million Regressions".   American Economic Review, 87(2):178-183.   Link
  46. 1997.   Lant Pritchett.   "Divergence, Big Time".   Journal of Economic Perspectives, 11(3):3-17.   Link
  47. 1997.   Lant Pritchett.   "Divergence, Big Time".   Journal of Economic Perspectives, 11(3):3-17.   Link
  48. 1997.   Klenow, Peter J. and Andres Rodriguez-Clare.   "The Neo-Classical Revival in Growth Economic, Has it Gone Too Far?".   NBER Macroeconomics Annual, 12.
  49. 1996.   Sala-i-Martin, Xavier X.   "The Classical Approach to Convergence Analysis".   Economic Journal, 106(437):1019-1036.   Link
  50. 1996.   Bernard, Andrew B and Jones, Charles I.   "Comparing Apples to Oranges, Productivity Convergence and Measurement across Industries and Countries".   American Economic Review, 86(5):1216-38.   Link
  51. 1995.   Nazrul Islam.   "Growth Empirics, A Panel Data Approach".   The Quarterly Journal of Economics, 110(4):1127-1170.   Link
  52. 1995.   Young, Alwyn.   "The Tyranny of Numbers, Confronting the Statistical Realities of the East Asian Growth Experience".   Quarterly Journal of Economics, 110(3):641-80.
  53. 1992.   Barro, Robert J and Sala-i-Martin, Xavier.   "Convergence".   Journal of Political Economy, 100(2):223-251.   Link
  54. 1992.   Mankiw, N. Gregory and Romer, David and Weil, David N..   "A Contribution to the Empirics of Economic Growth".   The Quarterly Journal of Economics, 107(2):pp. 407-437.   Link
  55. 1991.   Robert J. Barro and Xavier Sala-i-Martin.   "Convergence across States and Regions".   Brookings Papers on Economic Activity, 22(1):107-182.   Link
  56. 1989.   Robert E. Hall.   "Invariance Properties of Solow's Productivity Residual". National Bureau of Economic Research   Link
  57. 1988.   Hall, Robert E.   "The Relation between Price and Marginal Cost in U.S. Industry".   Journal of Political Economy, 96(5):921-47.   Link
  58. 1986.   Jaffe, Adam B.   "Technological Opportunity and Spillovers of R\&D, Evidence from Firms' Patents, Profits, and Market Value".   American Economic Review, 76(5):984-1001.   Link
  59. 1973.   Kuznets, Simon.   "Modern Economic Growth, Findings and Reflections".   American Economic Review, 63(3):247-58.   Link
  60. 1967.   William J. Baumol.   "Macroeconomics of Unbalanced Growth, The Anatomy of Urban Crisis".   The American Economic Review, 57(3):415-426.   Link
  61. 1965.   W. J. Baumol and W. G. Bowen.   "On the Performing Arts, The Anatomy of Their Economic Problems".   The American Economic Review, 55(1/2):495-502.   Link

Back to blog

Share and Discuss