The immiserizing growth: an empirical evaluation
Abstract:This article examines the empirical validity of immiserizing growth by using the revealed preference framework, together with macroeconomic growth data. We identify 26 episodes of immiserizing growth in the post-war world economy, mostly in Africa and Latin America. We also test statistically the restriction imposed by the standard macroeconomic framework that rule out the existence of immiserizing growth. The overall probability of immiserizing growth is found to be minimal in a cross section of countries.
Document Type: Research Article
Affiliations: Faculty of Economics, University of Tokyo, Japan
Publication date: May 1, 2009