economic growth in the g7 and the g20...economic growth in the g7 and the g20 title microsoft...
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ECONOMIC GROWTH IN THE G7 AND THE G20
byDale W. JorgensonHarvard University
Khuong VuNational University of Singapore
http://economics.harvard.edu/faculty/jorgenson/
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THREE MAJOR TRENDS IN THE WORLD ECONOMY
CHINA OVERTAKES THE U.S.:The U.S. Has Been the World’s Leading Economy for a Century
WORLD ECONOMIC GROWTH ACCELERATES:Mainly Due to China with a Contribution from India
THE NEW WORLD ORDER IN 2020:China, U.S., India, Japan, Russia, Germany, Brazil
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ECONOMIC GROWTH IN THE G7 AND THE G20
LABOR INPUT GROWTH:
Hours Worked and Labor Quality.
THE SOURCES OF ECONOMIC GROWTH:
Capital Input, Labor Input, and Productivity
CAPITAL INPUT GROWTH:
Information and Non-Information Technology
TOTAL FACTOR PRODUCTIVITY
Output per Unit of Input
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Sources of U.S. Economic GrowthAnnual percentage growth rates
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Sources of World Economic GrowthAnnual percentage growth rates
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Sources of G7 Economic GrowthAnnual percentage growth rates
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Sources of BRICS Economic GrowthAnnual percentage growth rates
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DEMOGRAPHICS:Hours Worked from Labor Force Projections;Labor Quality from Educational Attainment
LABOR PRODUCTIVITY:Growth of TFP, Capital and Labor Quality, and the
Gap between Output and Capital
GDP GROWTH:Sum of the Growth of Hours Worked and
Labor Productivity
PROJECTING GROWTH OF THE WORLD ECONOMY
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Range of U.S. Labor Productivity Projections, 2010-2020Annual percentage growth rates
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Range of U.S. Potential Output Projections, 2010-2020Annual percentage growth rates
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Growth Projections for the World EconomyAnnual percentage growth rates
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Growth Projections for the G7 EconomyAnnual percentage growth rates
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Growth Projections for the BRICS EconomyAnnual percentage growth rates
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New Economic Order 2020Percentage shares of world GDP
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RESEARCH ON ECONOMIC GROWTH:Growth of Input Greatly Exceeds TFP Growth;
Most Growth is Replication Not Innovation
OFFICIAL STATISTICS:Growth Is Now Included in Our National Accounts; This
Involves a New Architecture for the Accounts
THE ASIAN MODEL OF ECONOMIC GROWTH:The Special Sauce Is Globalization and the
Accumulation of Human and Nonhuman Capital
ECONOMIC GROWTH IN THE G7 AND THE G20
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