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What was the average annual growth rate of world GDP from 1820 to 2010?

User Leenremm
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Final answer:

The average GDP growth rate per capita in industrialized countries over the last two centuries has been about 2% per year. High-income countries experienced growth rates of 2.7% in the 1990s and 2.3% from 2000 to 2008. To find the global average growth rate, one must consider varying rates across all countries and time periods.

Step-by-step explanation:

The question asks about the average annual growth rate of world GDP from 1820 to 2010. During the last two centuries, in the leading industrialized countries, which experienced modern economic growth, the average GDP growth rate per capita has been around 2% per year. However, this does not directly answer the question for the global average, which may include higher growth rates in developing countries, particularly during the periods where they began to converge with higher-income countries.Data provided indicates that in the 1990s, high-income countries grew at an average rate of 2.7% per year and from 2000 to 2008, the average was 2.3% per year. These figures from high-income countries would only be part of the global average calculation, considering the overall world GDP growth rate would also take into account the growth rates of low and middle-income countries, which have at times grown faster than high-income countries. A comprehensive average would require a weighted combination of growth rates across all countries over the specified period.

The available data does not present a direct answer to the overall average annual growth rate of world GDP from 1820 to 2010. However, the patterns of growth in both high-income and faster-growing low and middle-income countries suggest a period of significant economic expansion globally with varying rates throughout the century.

User Laurie Cheers
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