ECONOMIC GROWTH IN THE CENTRAL CAUCASO-ASIAN COUNTRIES ADJUSTED FOR THE CATCH-UP EFFECT
Abstract
One of the main problems of economic development is to ensure stable economic growth. This article examines some issues relating to the measurement of economic growth in the context of Central Caucaso-Asia, a geopolitical region which includes the countries of the Central Caucasus (Azerbaijan, Armenia and Georgia) and Central Asia (Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan).
It should be emphasized that this problem has been analyzed in a number of significant publications.2 In order to measure economic growth, it is particularly important to use a more or less adequate method allowing a spatial comparison of countries and regions. But at present such a comparison is complicated by the existence of the so-called “catch-up effect.”
Downloads
References
See: V. Papava, “Central Caucasasia Instead of Cen-tral Eurasia,” Central Asia and the Caucasus, No. 2 (50),2008; V. Papava, “Central Caucaso-Asia: Toward a Redefi-nition of Post-Soviet Central Eurasia,” Azerbaijan in the World, The Electronic Publication of Azerbaijan Diplomatic Academy, Vol. 1, No. 17, 1 October, 2008, available at [http://www.ada.edu.az/biweekly/issues/156/200903280419 27833.html], 7 September, 2012; V. Papava, “Eurasia Ver-sus Central Caucaso-Asia: On the Geopolitics of Central Caucaso-Asia,” CICERO Foundation Great Debate Paper No. 09/8, December 2009, available at [http://www.
icerofoundation.org/lectures/Vladimer_Papava_On_the_
eopolitics_of_Central_Caucaso_Asia.pdf], 7 September,2012; V. Papava, “Central Caucaso-Asia: From Imperial to Democratic Geopolitics,” Bulletin of the Georgian Nation-al Academy of Sciences, Vol. 4, No. 1, 2010.
See, for example: J.E. Stiglitz, A. Sen, J.-P. Fitous-si, Mismeasuring Our Lives: Why GDP Doesn’t Add Up,The Report by the Commission of the Measurement of Economic Performance and Social Progress, The New Press,New York, 2010; R.J. Barro, X. Sala-i-Martin, Economic Growth, Massachusetts Institute of Technology, 2004; M. leurbaey, “Beyond GDP: The Quest for a Measure of So-cial Welfare,” Journal of Economic Literature, Vol. 47,No. 4, 2009, pp. 1029-1075.
N.G. Mankiw, Principles of Economics, Thomson South-Western, Mason, 2004, pp. 546-547.
See: GDP Growth (Annual %), The World Bank, 2012, available at [http://data.worldbank.org/indicator/Y.GDP.MKTP.KD.ZG], 7 September, 2012.
See: GDP Per Capita (Current U.S.$), The World Bank, 2012, available at [http://data.worldbank.org/indicator/Y.GDP.PCAP.CD], 7 September, 2012.
See: GDP Per Capita (Current U.S.$).
See: GDP Growth (Annual %).
See: GDP Per Capita (Current U.S.$).
See: GDP Growth (Annual %).
Downloads
Published
Issue
Section
License
Copyright (c) 2012 AUTHOR
This work is licensed under a Creative Commons Attribution 4.0 International License.
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
