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Development EconomicsFrom the Poverty to the Wealth of Nations$
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Yujiro Hayami

Print publication date: 2001

Print ISBN-13: 9780199243976

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0199243972.001.0001

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A Comparative Perspective on Developing Economies

A Comparative Perspective on Developing Economies

Chapter:
(p.31) 2. A Comparative Perspective on Developing Economies
Source:
Development Economics
Author(s):

Yujiro Hayami

Publisher:
Oxford University Press
DOI:10.1093/0199243972.003.0003

Aims to develop a bird's eye view on current status and growth potential of developing economies by means of highly condensed international comparative statistics in order to postulate broad hypotheses for the analyses in the subsequent chapters. The data suggest that wide differences in economic growth rates among developing countries are due little to differences in natural resource endowments, but may instead be explained by investment in both physical and human capital. Such broadly defined capital formation depends not so much on the level of per capita income as it does on institutions and policies.

Keywords:   capital formation, developing countries, economic growth, inter‐country differences, inter‐regional differences, natural resources

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