Authors: Dongchan Lee
In this paper, as the second paper of BOEC series, we show why and how USL1 can induce the (Real) GDP per capita growth rates as well as the (Real) GDP growth rate by halving the GDP (per capita) growth doubling time. An equivalent statement to this is roughly doubling the GDP growth rates. The presentations in each part will become increasingly more detailed or sophisticated in this paper. We present this by first simply estimating by adding 1% (after USL 0.5) or 2% (after USL1) etc. on the baseline growth rates. We first demonstrate that the USL doubling the GDP growth rates for the average world GDP, OECD average, the U.S.A., and Sub-Saharan Africa. They are the rough estimations, but they seem to fit reasonably well. Secondly, we use a bit more sophisticated algorithm adapted from the paper by Hanushek-Woessmann to visually demonstrate that USL1 roughly halving the (Real) GDP growth doubling time. Then we project the various scenarios for the baseline (Real or nominal) GDP (per capita or not) growth rates from 0.5% up to 7%. We didn´t include beyond the 7% because the USL1´s halving the doubling time error bars will be too big after then in most cases.
Comments: 11 Pages.
[v1] 2015-02-19 14:28:05
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