The Problem of the Catch-Up Effect and Post-Crises Economic Growth in the World Leading Countries

The direct comparisons of economic growth by countries are not constructive due to the catch-up effect. For measuring the economic development of different countries, the indicators of appropriate gross domestic products per capita are used. The paper proposes the hypothesis of proportional overlap for the catch-up effect. The paper also contains proof of an invariance theorem. After the adjustment for the catch-up effect of the economic growth ratios, the World leading countries in economic growth are Australia, the U.S., Canada and Saudi Arabia