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The Catch up effect
4
How?
- Poor= Easy
- Rich= Hard
- Both get richer, but at different rates.
Real Life Examples
Comparative Growth Rate
- Need a Catalyst.
- sudden discovery
- new development
- investment in health or technology
- Production/Survival
- 2010 Singapore Growth Rate= 14.8%
- United States =2.4%
- Went from 20th century to 21st century technology
- In 1949, China began to trade with the western world
- 1810 New York vs. 2010 New York
African Countries
first world Countries
- United States 2.2
- Japan 1.6
- China 7.7
- Algeria 2.8
- Mali 2.1
- Kenya 5.7
- Uganda 3.3
- Zimbabwe 4.5
In 2015, 7 of the 10 fastest growing economies were in Africa.
http://www.tradingeconomics.com/uganda/indicators
Works Cited
http://www.indexmundi.com/g/g.aspx?c=ug&v=29
What Is It?
- http://www.economist.com/blogs/freeexchange/2013/07/emerging-markets
- http://www.investopedia.com/terms/c/catch-up-effect.asp
- http://www.economist.com/node/21528979
- http://www.economist.com/news/leaders/21616951-incomes-developing-world-are-no-longer-speeding-toward-those-rich-hold-catch-up
- http://www.ehow.com/facts_6946360_catch_up-effect-economics.html
The Annual Inflation rate is higher than the GDP growth rate.
Without major change in either gdp, Inflation rate, or other aspects, uganda will never Get out of poverty.
The hypothesis that poorer economies' per capita incomes will tend to grow at faster rates than richer economies.
- AIDS
- Basic Medical Care
- Food and Water
Ugandans living below poverty rate ($1.25 US)
- 1998-56%
- 2009- 24.5%
- 2013-19.7%
"Just 30% of countries in the developing world for which figures are available managed to increase their output per person faster than America did, thus achieving what is called “catch-up growth”. That catching up was somewhat lackadaisical: the gap closed at just 1.5% a year. From the late 1990s, however, the tables were turned. The researchers found 73% of developing countries managing to outpace America, and doing so on average by 3.3% a year. Some of this was due to slower growth in America; most was not."
http://www.indexmundi.com/g/r.aspx?c=ug&v=69
What does this look like for Africa?
http://www.unicef.org/infobycountry/uganda_statistics.html
- Current economic growth
rate is 10.7%.
GDP (current US$)
$24.70 billion 2013
Population, total
37.58 million 2013
- Estimated 6.7% real GDP growth between 2015 and 2017.
- 12% real GDP between 2018-2019
Africa Projection
- Increase in medical attention= Increase in population = Increase in productivity = GDP growth
It took China 300 years to catch up.