The World Economy

Growth or Stagnation?

Dale W. Jorgenson, Kyoji Fukao, Marcel P. Timmer

• Publisher: Cambridge University Press
• Year: 2016
• Print ISBN:
  9781107143340
• eBook ISBN:
  9781316667224
• Topic: Economics
• Subtopic: Development Economics
• Index: Economics

The balance of the world economy is shifting away from the established economies of Europe, Japan, and the USA, towards the emerging economies of Asia, especially India and China. With contributions from some of the world's leading growth theorists, this book analyses the long-term process of structural change and productivity growth across the world from a unique comparative perspective. Ongoing research from the World KLEMS Initiative is used to comparatively study new sources of growth - including the role of investment in intangible assets, human capital, technology catch-up, and trade in global value chains. This book provides comparisons of industries and economies that are key to analysing the impacts of international trade and investment. This makes it an ideal read for academics and students interested in understanding current patterns of economic growth. It will also be of value to professionals with an interest in the drivers of economic growth and crisis.

Table of contents

• Cover
• Half-title page
• Title page
• Copyright page
• Contents
• List of Figures
• List of Tables
• List of Contributors
• 1 The new world order
• 2 US economic growth – retrospect and prospect: lessons from a prototype industry-level production account for the US, 1947–2012
• 3 The structural causes of Japan’s Lost Decades
• 4 Productivity growth in Europe before and since the 2008/2009 economic and financial crisis
• 5 LA-KLEMS: economic growth and productivity in Latin America
• 6 On China’s strategic move for a new stage of development – a productivity perspective
• 7 Productivity growth in India under different policy regimes
• 8 Is mining fuelling long-run growth in Russia? Industry productivity growth trends in 1995–2012
• 9 Intangibles, ICT and industry productivity growth: evidence from the EU
• 10 Do intangibles contribute to productivity growth in East Asian countries? Evidence from Japan and Korea
• 11 BEA/BLS industry„-level„ production account for the US: integrated sources of growth, intangible capital, and the US recovery
• 12 Measuring human capital: country experiences and international initiatives
• 13 A half century of Trans„-Pacific„ competition: price level indices and productivity gaps for Japanese and US industries, 1955–2012
• 14 Searching for convergence and its causes – an industry perspective
• 15 The rise of global manufacturing value chains: a new perspective based on the World Input–Output Database
• Index