Growth Rate Of The GDP Per Capita Revisited

Figure 2. Same as in Figure 1 for Austria.

Figure 2 presents the case of Austria. The mean annual GDPpc increment line ($562) is practically the same as the regression line for the increment, with a slightly negative slope indicating that the annual increment has been decreasing since 1960.

This observation is close to the findings in the previous post, but the years between 1950 and 1959 were less successful for Austria, the slope for the longer period since 1951 is positive, and the mean increment is only $547. The GDPpc level in 1960 was $10391, much lower than in Australia.

Figure 3. Same as in Figure 1 for Belgium.

Figure 3 presents the case of Belgium. The mean annual GDPpc increment ($494) is lower than that observed in Australia and Austria for the same period, and the GDPpc level in 1960 was $11081.

In Belgium, there were six years with a negative growth rate, and the corresponding recessions were slightly deeper than in Austria. This is one of the reasons behind the lower mean annual increment. A similar pattern is observed in Canada (Figure 4), but the mean annual increment is higher $533, and the level measured in 1960 was  $13952, almost the same as in Australia.

Figure 4. Same as in Figure 1 for Canada.

Figure 5. Same as in Figure 1 for Denmark.

The GDPpc level in Denmark (Figure 5) in 1960 was $14046, and the annual increment between 1960 and 2018 is $556. This is a successful country with a high start value and healthy annual growth.

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