Uzoq muddatda mamlakatlar va mintaqalar bo'ylab o'sish yaqinlashuvi: panelli tahlil yordamida empirik tadqiqot (1980-2018)

Figure 1
Figure 1 plots the average growth rate of GDP per capita for Europe, Asia, and Sub- Saharan
Africa. Between 1980 to 1990, the average growth rate of per capita GDP was positive ranging
between 0.5% to 3.5% in Europe, while that of Asia was between 0.5% to 4.0%. Sub-Saharan
-4
-2
0
2
4
A
v
e
ra
g

---

e
G
DP
p
e
r C
a
p
ita
G
ro
wt
h
1980
1990
2000
2010
2020
year
Europe
-2
0
2
4
6
A
v
e
ra
g
e
G
DP
p
e
r C
a
p
ita
G
ro
wt
h
1980
1990
2000
2010
2020
year
Asia
-4
-2
0
2
4
A
v
e
ra
g
e
G
DP
p
e
r C
a
p
ita
G
ro
wt
h

---

1980
1990
2000
2010
2020
year
Sub-Saharan Africa
Author's construct
Average per Capita GDP Growth by Region (1980-2018)
43 |
P a g e
Africa, on the other hand, experienced a declining growth in per capita GDP ranging from -0.3%
to 1.8% which is far below that of Europe and Asia. Growth began to decline drastically in Asia
in the late 1990s reaching the negative territory but picked up after 2000 with the growth rate
reaching as high as 6%. Europe’s growth rate hovered within the same range from 0.5% to about
4% after the 1990s through to the early 2000s, and Sub-Saharan Africa also began to recover,
recording positive growth in GDP per capita from -3% to 2.2% between 1995 to the early part of
2000. The average growth in GDP per capita deteriorated drastically across the globe in 2008/2009
due to the financial crisis. The impact was most felt in Europe as average growth of GDP per capita
reached the negative (about -4.2%), which was the lowest compared to Asia and Sub-Saharan
Africa where growth declined to about -2% and -3% respectively. Average per capita GDP growth
started rising after 2010 across the three regions, with higher growth rates in Asia, followed by
Europe, and then Sub-Saharan Africa. This was followed by a slowdown in Asia and SSA between
2012-2015, but this trend was reversed after 2015 where growth started to rise again and have been
quite stable across the regions.
44 |
P a g e
CHAPTER FOUR
4.0 EMPIRICAL RESULTS AND DISCUSSION
4.1 Introduction
This chapter presents the results obtained from the estimation of the models specified in chapter
three and a discussion and interpretation of the results.
4.2 Results and Discussions
4.2.1 Absolute Convergence (model one)
This estimation results test for absolute convergence across the full sample, as well as the three
regions. It presents the relationship between the growth rate of GDP per worker and the initial
level of per capita GDP. The results are presented below.