June 14, 2011

Which countries have had most, and least, GDP growth per person since 2001?

In a technology driven world, natural resources rich countries seem to have the best conditions for economic growth. The chart below makes me think about the accuracy of the capital accumulation model of growth (Solow Model) and it's relevance today.

Equatorial Guinea -a country that has largely exploited its oil reserves in the last decade- seem to have the highest GDP per capita growth. On the other hand, largely devastated countries with a social conflict and lack of institutions like Zimbabwe and Haiti, have the lowest measure of GDP per capita.

Check out this interesting chart from The Economist:


Source: The Economist On-Line at: http://www.economist.com/blogs/dailychart/2011/06/gdp-growth?fsrc=scn/fb/wl/dc/haresandtortoises

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