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Economic growth
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GDP Upgrade: How Can One Measure the Quality of Economic Growth?
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Alexey Kuprianov, World Economics, December 2020
Sustainable per capita economic growth is possible if the quality of goods and services produced by the economy increases. US GDP growth may be underestimated by 0.4–0.6% per year because of unmeasured (undetected) improvement in the quality of goods and services. Calculation and publication of new statistical indicators such as IQI for separate product groups and the impact of quality on GDP for the whole economy will improve our understanding of the contribution of quality to economic growth.
Debt, Economic Growth and Data Adequacy
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Vighneswara Swamy, World Economics, June 2018
The effects of government debt on economic growth has become of immense importance in the backdrop of the Eurozone sovereign debt crisis and Reinhart & Rogoff’s related research. This study is based on a sizeable dataset which extends the horizon of analysis to country groupings and makes it inclusive of economic, political, and regional diversities. The study overcomes issues related to data adequacy, coverage of countries, heterogeneity, endogeneity, and non-linear relationships by conducting a battery of robustness tests. An increase in the debt-to-GDP ratio is found to be associated with a reduction in average growth, but the relationship is nonlinear.
Measuring African GDP
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Joe Downie, World Economics, June 2011
There is much speculation about the growth potential of African economies. But in the light of unreliable official statistics and the highly selective information often presented by investment companies with an incentive to highlight the positive, this article aims to provide some extra analysis to add to the recent widespread comments on high growth rates within the continent. Problems are noted with official economic data and the strengths of Purchasing Power Parity (PPP) measures for GDP comparisons are noted. GDP figures for Africa and five other major economic areas are analysed for the three decades to 2010 in terms of GDP growth and GDP level by decade. These figures are then viewed in per capita terms, drawing attention to significant population growth within the continent, and therefore less impressive per capita figures. A closer look at the location and distribution of economic activity within the African continent highlights the high concentration of economic activity within a small number of countries. However, it is concluded that the future prospects for African growth are still generally positive. Despite the heavy reliance on oil exports in some countries, headline GDP figures also reflect incidences of broad-based growth which looks set to continue so long as Asian demand remains high and good economic policies are pursued.

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