A Cross-Country Analysis of Achievements and Inequities in Economic Growth and Standards of Living

Abstract

"Hyun H. Son compares achievements and inequalities in standards of living across 177 countries over the period 2000–2007. To measure achievement, an achievement index is introduced, which holds the view that an increase in the standard of living of a country when it is already at a high level signifies a greater achievement than that of another country with an equal increase but from a lower base. Moreover, the paper estimates the number of years it will take for different regions and selected Asian countries to catch up with the average standard of living of industrialized countries. "