We present estimates of the relationship between the share of income accruing to the middle class and GDP per capita of ASEAN economies. The increase in GDP per capita that ASEAN economies experienced during 1970-2010 significantly contributed to a higher share of income accruing to the middle...

This paper examines consumption patterns in Asia. The majority of Asian countries, in particular, those located in East Asia, such as China, are characterized by high GDP shares of consumption. While over the past two decades there has been a remarkable growth in consumption, and to a lesser...

Since the 1980s, no significant negative relationship exists in sub-Saharan Africa between adult mortality and urbanization. In the rest of the world, the relationship between adult mortality and urbanization is significantly negative. High prevalence of HIV likely explains the absence of a...

During the 2000s PPP GDP per capita growth in the Philippines was modest. Transitional convergence accounted for almost half of the growth in the Philippines during that time period. Reforms to the structure of the economy boosted growth by less than one percentage point per annum. The most...

We examine the relationship between domestic saving and the current account in developing countries. Our three main findings are that: (i) domestic saving has a small effect on the current account; (ii) domestic saving has a significant positive effect on the trade balance – this effect is...

I examine whether action-based fiscal consolidations are exogenous to contemporaneous GDP growth. Based on the narrative record, these fiscal consolidations had the primary objective to reduce a budget deficit. I find that temperature changes, the GDP growth rate of trading partners, and an...

Military expenditure shares significantly affect the relationship between the risk of civil conflict outbreak and natural resources. We show that a significant positive correlation between the risk of civil conflict outbreak and resource rents is limited to countries with low military...

Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970-2010, this paper provides estimates of the capital output elasticity and compares these to countries' capital income shares....

The Vietnamese economy is characterized by a high degree of international trade openness and a relatively low GDP share of net-exports. This paper examines the effect of growth in the terms of trade, and more specifically, in international commodity prices, on Vietnam's GDP per capita growth....

Between the end of the 1990s and the first decade of the 2000s Russia experienced significant growth in GDP per capita that was driven by transitional convergence, structural reforms, and improvements in the terms of trade. Reforms to the structure of the economy boosted growth by over 2...