Showing papers on "Real gross domestic product published in 1978"
321 citations
TL;DR: In this article, a comparison of these statistics shows a relationship between the rates of change in GDP and the total inputs in that countries experiencing extremely high or low rates of GDP growth had corresponding rates of capital-labor inputs.
Abstract: The growth-accounting approach is used to see what economic growth the seven major Latin American countries have experienced and which experiences are common. The purpose is to determine which economic policies are conducive to growth. Statistics for the 1940 to 1974 period are presented on gross domestic product (GDP), the share of labor in terms of gross input (employment) and the quality component, and capital input. A comparison of these statistics shows a relationship between the rates of change in GDP and the total inputs in that countries experiencing extremely high or low rates of GDP growth had corresponding rates of capital-labor inputs. Labor quality was an important component in most countries in contrast to capital quality. 34 references.
37 citations
TL;DR: In the more than three decades since the second world war, the South African economy has experienced rapid growth as discussed by the authors, and the average annual growth rate in real gross domestic product was 5·2 per cent.
Abstract: Economic Trends and Composition In the more than three decades since the second world war, the South African economy has experienced rapid growth. In the years 1945–65, the average annual growth rate in real gross domestic product was 5·2 per cent. (During this sustained twenty‐year growth period, the country's population increased by an average of 2·3 per cent, which means that an annual increase in per capita product of 2·9 per cent was registered.) In the years 1966–72, economic growth was even more rapid, at an annual rate of around 6 per cent in real terms. In concert with many other countries, South Africa's economic performance has been weaker over the past five years (1973–77) with growth rates hovering about zero; excess capacity; inflation; and growing open unemploy‐ment (in addition to traditional and no doubt very substantial under‐employment, especially in the large semi‐subsistence sector).