Thus, the share of EMEs in global output (in PPP-adjusted terms) increased from 43 percent in 2000 to around one half by 2007.
Moreover, this accelerated growth in EMEs had a significant impact on the wellbeing of these economies’ populations, as their nominal GDP per capita (also in PPPadjusted terms) rose by nearly 70 percent during that period, thus narrowing the gap with respect to the advanced economies (AEs).1 Naturally, this performance supported the expectation of a much faster convergence between the two groups of economies.