Comparing Africa, Asia and Latin America/Caribbean Countries Using Per Capita GDP, Remittances, Openness, Capital/Labor Ratios and Freedom

Document Type

Article

Publication Date

1-1-2016

Department

Political Science, International Development, and International Affairs

School

Social Science and Global Studies

Abstract

The focus of this paper is to evaluate similarities and differences between and within three regions: Africa, Asia, and Latin America/Caribbean. The five variables used (per capita GDP, remittances, openness, capital/labor ratio and freedom) broadly classify economic growth in these regions. For each of the five variables the null hypothesis is that the means of the three regions are equal. One-way analysis of variances is the tool of choice. Furthermore, the full samples are employed to test equality of the means between the three regions and all regions. The results show substantial gaps between the groups as well as factors under consideration.

Publication Title

Journal of Economics and Finance

Volume

40

Issue

1

First Page

188

Last Page

198

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