Inequality between Countries: Growth Models and Public Policies

This lecture explores the classic growth model, emphasizing the importance of technical progress, capital intensity, and the share of capital in total income for income per capita growth. It delves into the historical evolution of GDP per capita across countries, highlighting the role of supportive public policies in fostering economic development. The correlation between quality of education and economic growth is discussed, along with the factors contributing to the disparity in GDP growth among countries. The lecture also addresses the poverty trap, geographical influences on economic development, the impact of openness to trade, and the implications of income inequalities between countries.