Translation of "Catch-up growth" in German

Catch-up growth and convergence in the new Member States will be a long process.

The Soviet Union never was able to build the institutions to allow for catch-up economic growth.

I have claimed that the islands were predominantly formed by catch-up coral reef growth.

Once they developed the basic institutions needed for a market economy and learned how to avoid serious macroeconomic policy mistakes, emerging countries started benefiting from catch-up growth.

It is true that catch-up growth is easier in manufacturing than in other sectors, a point recently emphasized by Dani Rodrik of Harvard University, and it may be that a good portion of it has been exhausted in manufacturing by the best-performing firms in emerging countries.

But there is still a lot of “internal” room for catch-up growth, as less efficient domestic firms become more competitive with more efficient ones.

A major part of the economic-convergence process that has been taking place since the late 1980’s has been due to “catch-up” growth.

Beyond global factors that apply to all, rapid catch-up growth requires sufficient investment in both physical and human capital.

In the medium term, however, the potential for technological catch-up growth and secular convergence remains strong in most emerging countries.

Pessimists stress the feared reversal of private capital flows, owing to the US Federal Reserve’s tapering of its purchases of long-term assets, as well as the difficulties of so-called second- and third-generation structural reforms and the limits to “catch up” growth outside of manufacturing.

Moreover, some of the medium-term fundamentals for most emerging markets, including the fragile ones, remain strong: urbanization, industrialization, catch-up growth from low per capita income, a demographic dividend, the emergence of a more stable middle class, the rise of a consumer society, and the opportunities for faster output gains once structural reforms are implemented.

Inequality within countries has increased, and inequality between countries increased sharply after 1980, before leveling off in the late 1990’s and finally falling back after 2000, as catch-up growth in developing countries accelerated.

Indeed, developing and emerging economies’ rapid “catch-up growth” suggests that their aggregate economic weight is about to surpass that of the advanced world.

As the European Union prepares to welcome up to twelve new members, debate is heating up among the leading candidate countries about whether or not speedy adoption of the euro will promote or impede rapid catch-up growth.

If the relevant conditions are satisfied, North Korea could capitalize on the “catch-up” effect, boosting growth further, because its low per capita income level would help to increase investment productivity and facilitate technology transfer from more developed economies.

This is another form of solidarity, which also exists in the EU, where regional development funds are allocated to poorer regions to foster catch-up growth.

The global strategy of this programme is to accelerate economic growth in Sachsen-Anhalt in order to catch up with average growth rate in Germany and the EU and to improve significantly the labour market situation, taking into account the high unemployment rate.

Firstly, with regard to cohesion, an analysis is made of the prospects for catch-up growth and convergence in the new Member States.

While still able to exploit the scope for catch-up growth, emerging economies must undertake continuous, rapid, and at times difficult structural change, along with a parallel process of reform and institution building.