Title: When fast growing economies slow down
Description: "Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down.  The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita incomes reach around $17,000 US in year-2005 constant international prices, a level that China should achieve by or soon after 2015.  Among our more provocative findings is that growth slowdowns are more likely in countries that maintain undervalued real exchange rates"--National Bureau of Economic Research web site.