Which countries have abnormally high or low growth?
We compare the level of GDP, in purchasing power parity relative to the working-age population, with real GDP growth, from 2002 and from 2012. GDP growth is normally higher in countries where GDP per capita (working person) is low, and lower in countries where GDP per capita (working person) is high. Comparing major OECD countries with major emerging countries, we see that: There is indeed a decreasing relationship between the initial level of per capita GDP and subsequent growth; GDP growth is abnormally high in China, India, Turkey, Australia and the United States; GDP growth is abnormally low in Brazil, Mexico, Spain and Italy. These deviations from “normal” growth, linked to the level of per capita GDP, may be due to economic policies (restrictive or expansionary), innovation and education. Not all deviations from the normal relationship between growth and per capita GDP can be explained by research or education spending .