scholarly journals Comparative assessment of the influence of a technological factor on economic growth

2021 ◽  
Vol 1 (13 (109)) ◽  
pp. 6-15
Author(s):  
Boris Kheyfets ◽  
Veronika Chernova
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Technological Factor ◽  
The United States ◽  
High Tech ◽  
Gdp Growth ◽  
Technological Gap ◽  
Consistent Manner ◽  
Technological Effectiveness

The study focuses on the extent to which the technological factor affects economic growth and analyzes its role in enhancing socio-economic differentiation. We develop a methodology for ranking countries according to the level of their technological effectiveness using the specific index. Correlation and regression analysis is used to identify technological factors in economic development. Approbation of the approach took place on the example of the United States and China. The data obtained demonstrate that the increase in R&D costs and the export of high-tech products has a positive effect on economic growth. R&D spending provides 31.6 % to 41.9 % of GDP growth for the United States and China, respectively. Exports of high-tech products support GDP growth at the level of 2.7 % to 4.7 %. The research findings confirm that the technological factor encourages economic development through more efficient allocation of resources, the spread of innovations and the growth of high-tech exports. Regression models have proved this relationship. China ranks first in the index of technological effectiveness and is followed by the United States and Japan. Such countries as Kazakhstan, Brazil and Ukraine are lagging significantly behind some technologically advanced European nations (Romania, Poland, Bulgaria), as well as Turkey and Mexico. Analysis of data from a sample of 30 countries showed that technological differentiation is a direct cause of overall inequality. To bridge this technological gap, it is expedient to develop the existing technological potential in a consistent manner, while concentrating efforts on high-tech sectors capable of strengthening the foundation of the economy

scholarly journals Global Outlook for 2018: Economy, Finance, and Monetary, with a Particular Case Study of Taiwan

2018 ◽  
Vol 10 (3) ◽  
pp. 133 ◽  
Author(s):  
Shyi-Min Lu
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Interest Rates ◽  
Global Economy ◽  
Average Rate ◽  
The United States ◽  
Gdp Growth ◽  
Advanced Economies ◽  
Global Economic Growth

In October 2017, IMF President Christine Lagarde declared that the GDP growth of world’s economies in the first half of 2017 was up to the broadest recovery since 2010. So far, the strength of global economic growth has been enhancing. The interest rates and inflation are still at a low level. The global economy has risen from the bottom in 2016 to reach its peak since 2011. As for the degree of economic development, the emerging markets grew fastest, followed by the developing countries, while the advanced economies grew moderately at an average rate around 2%. Manufacturing PMI in major countries, such as the United States, China, the Eurozone, and even Taiwan, have increased above 50 notably in the recent years, while the non-manufacturing PMI is also above 50. Accordingly, the main purpose of this paper is to forecast the global economy in 2018, which is on the trajectory of booming with a certain degree of uncertainty. A particular case study of Taiwan’s overall economic development is presented as well.

scholarly journals MARKETS AND INDUSTRY — VENTURE CAPITAL AND ECONOMIC GROWTH: AN INDUSTRY OVERVIEW AND SINGAPORE'S EXPERIENCE

2002 ◽  
Vol 47 (02) ◽  
pp. 243-267 ◽  
Author(s):  
FRANCIS C. C. KOH ◽  
WINSTON T. H. KOH
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Venture Capital ◽  
Silicon Valley ◽  
The United States ◽  
Economic Success ◽  
Technology Leader ◽  
Urgent Task ◽  
The Creation

This paper provides an overview of the venture capital industry and its development in Asia and Singapore. Venture capital plays an important role in innovation and economic growth. Indeed, the resurgence of the United States as a technology leader is intimately linked to the success of Silicon Valley. As Singapore enters the next phase of economic development, the creation of internal engines of growth is an urgent task. The Singapore government has done much to provide an environment for entrepreneurship to thrive. Its success at replicating the Silicon Valley culture will be important for Singapore's future economic success.

The Miracle of Airports

2021 ◽  
pp. 88-90
Author(s):  
Samuel Cohn
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
The United States ◽  
Air Traffic ◽  
Commercial Agriculture ◽  
Quantitative Studies ◽  
Airport Capacity ◽  
Do So

This chapter assesses how airports increase economic growth and do so dramatically. The two main quantitative studies that have been done on the effects of airports on economic development were done in Brazil and in the United States. Both studies showed that there was dramatically higher growth in the states receiving airport expansions; the super-growth only occurred after the airport expansion was completed. Commercial agriculture and tourism seem to be particularly responsive to enlargements of airport capacity. However, it is possible to overdo airport construction. Spain went on an airport-building binge in the 2000s. Above and beyond the airports the country already had, forty-eight new airports were constructed, many of which were less than an hour from each other. Only eleven of the new airports were profitable and some saw no air traffic at all.

Modernization, dependency, and the global in Mexican critiques of anthropology

2014 ◽  
Vol 9 (1) ◽  
pp. 94-121 ◽  
Author(s):  
Karin Alejandra Rosemblatt
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Latin America ◽  
Social Science ◽  
Psychological Factors ◽  
World System ◽  
The United States ◽  
Capitalist World

AbstractThis articles examines the links between Mexican anthropologists who – as part of a 1960s-era revolt, rejected prior anthropological approaches, which they labelled imperialist – and social science currents in the United States, Latin America, and Europe. They also took inspiration from anti-colonial movements. They spurned modernization theories that focused on the multiple economic, cultural, and psychological factors that might spur US-style capitalist economic growth and that sought to overcome the internal, national brakes on progress. Instead, they embraced dependency theories that linked the ‘internal’ (national) to the ‘external’ (global) and privileged revolutionary changes that implied a radically changed relation to the global capitalist world system. Yet dependency and modernization theories emerged within a shared intellectual space. Even as many intellectuals rejected US models of economic development, they accepted the primacy accorded to economics and technology and the notion that science was a global enterprise aimed at generating universal knowledge.

Mexico's Recent Science and Technology Planning: An Outsider Economist's Critique

1980 ◽  
Vol 22 (2) ◽  
pp. 163-193 ◽  
Author(s):  
Dilmus D. James
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Science And Technology ◽  
The United States ◽  
External Control ◽  
Technology Planning ◽  
Mexican Migration ◽  
Surplus Labor

There are a number of reasons why Mexico attracts students of economic development. Boasting an impressive rate of economic growth that has been sustained for four decades, yet plagued with discouraging and mounting problems of surplus labor and maldistribution of income, Mexico is one of the prime cases that has sparked the discussion over the distinctions between “economic growth” and “economic development.” Furthermore, Mexico affords a classic test of the validity of some dependency writers’ claim that periphery countries’ subjugation to external control varies directly with the length and intensity of contact with center nations (Frank, 1972: 10). The sudden revelation of Mexico's potential as an energy supplier, the growing concern with the magnitude and consequences of illegal Mexican migration to the United States, and the increasing recognition of the uniqueness and importance of the Mexico-U.S. border economy add further appeal for economists, political scientists, and sociologists.

Primitive Accumulation Today

2021 ◽  
pp. 66-68
Author(s):  
Samuel Cohn
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Active Component ◽  
Karl Marx ◽  
Free Market ◽  
The United States ◽  
Global South ◽  
Primitive Accumulation ◽  
History Of

This chapter discusses how raiding was the foundation of Western economic growth. It is also an active component of economic development in the Global South today. Capitalism may operate through the voluntaristic choices of the free market, but it reinforces itself with coercion. The technical term for modern-day raiding is “primitive accumulation,” a word used by Karl Marx to describe the origin of capitalism. The chapter then considers how the United States is an example of capitalism based on forcible land acquisition. In the Global South, land is often just taken away by plain, ordinary coercion. Colombia has a particularly violent history of land seizure. The chapter looks at the scale and violence of contemporary expropriation in Colombia.

scholarly journals FEATURES OF THE DEVELOPMENT OF FIXED CAPITAL IN THE UNITED STATES: LESSONS FOR RUSSIA

2019 ◽  
Vol 3 (1) ◽  
pp. 161-168
Author(s):  
Boris Lavrovskii ◽  
Ekaterina Goryushkina ◽  
Evgeny Shiltsin
Keyword(s):  
United States ◽  
Economic Growth ◽  
Growth Rate ◽  
Econometric Model ◽  
The United States ◽  
Gdp Growth ◽  
Unit Costs ◽  
Gdp Growth Rate ◽  
Intellectual Product ◽  
The Relationship

The article on the example of the United States demonstrates the relationship between economic growth and investment expenditures on the growth of a unit of GDP. The assumption is made that the dynamics of unit costs of investments (need for unit costs) is determined by the share of the intellectual product in productive investment. Based on the Cobb-Douglas function econometric model was constructed, which relates the GDP growth rate to the intellectual product. Communication estimates are given.

scholarly journals The Deterioration of Reproduction Conditions in the U.S. Economy

2018 ◽  
Vol 11 (2) ◽  
pp. 133-150
Author(s):  
V. S. VASILIEV
Keyword(s):  
United States ◽  
Economic Growth ◽  
Economic Development ◽  
Synergistic Effects ◽  
The United States ◽  
Economic Returns ◽  
Goods And Services ◽  
Us Economy ◽  
The Us ◽  
American Society

In the article the reasons for the deceleration of the average annual rates of economic growth of the United States are analyzed.  The rates declined in one and the half decade of the XXI century twice in comparison with the last three decades of the  twentieth century. Leading American economists and analysts  associated the main cause of the slowdown in economic growth with  a double drop in the rate of total factor productivity (TFP). This  indicator reflects the synergistic effects of the interaction of physical  and human capitals in the production process. The gradual decrease in the synergetic value of the interaction of labor and  capital in the US economy, other things being equal, also means a  decrease in the contribution of sinergetic factor to the rates of  economic growth and a greater priority in the state socio-economic policy of the capital factor in economic development. In  turn, the increasing role of capital in the economic development of  the US turns around with a sharp increase in inequality in income  distribution among different social strata of American society,  resulting in the bulk of the increase in economic production to  primarily 20% of the wealthiest layers of American society. The  growth of injustice in the distribution of goods and services in recent  decades in the United States was due to the lack of purposeful state  policy of the income redistribution. me. The absence of such a policy  stemmed from a growing crisis of most components of the  reproductive logistics of the American economy. In the end, general  conclusion is that the trend towards long-term decline in economic  growth will continue in the future because the US will be forced to invest trillions of dollars for infrastructure modernization in the  economy, which will not bring back quick economic returns in the short and possibly medium term.

US Economic Growth: Trends and Factors

2016 ◽  
Vol 60 (2) ◽  
pp. 26-39
Author(s):  
V. Varnavskii
Keyword(s):  
United States ◽  
Economic Growth ◽  
Growth Rate ◽  
Information And Communication Technologies ◽  
Labor Productivity ◽  
The United States ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
The Us ◽  
Per Capita

The article considers the main trends and factors of US economic growth. Economic and technological reasons for slowdown of US Gross Domestic Product (GDP), GDP per capita and productivity are discussed. The author focuses on the estimates of key macroeconomic indicators published by the Bureau of Economic Analysis, Bureau of Labor Statistics and other government agencies for analyzing historical growth and identifying factors contributions. Also, the article discusses points of view on the potential factors for continued economic growth in the future, including the statistics and calculations of the American economists. It is shown that the United States is nowadays facing fundamental problems of productivity, not just a cyclical downturn. A number of disturbing tendencies in the US economy, such as negative trends in both labor productivity and multifactor productivity (MFP) emerged well before the economic and financial crises of 2008 (Great Recession). As the author note, the US has entered into a period of relatively low GDP growth rate in comparison with 1990 – early 2000s. A reduction also occurred in the growth rate of GDP per capita, labor productivity and other indicators. Special attention is addressed to the roles of the Information and Communication Technologies (ICT). Since mid-1990 the large-scale investments into the ICT provided a great portion of US economic growth and productivity. However, in the last 10 years the contribution of ICT to productivity growth noticeably reduced from its maximum value in 1995–2004. Nonetheless, it remains sizable and still contributes about one-fifth of the GDP growth and more than 40% of the growth in labor productivity. The author’s general conclusion is that, despite the existing problems in economic growth, United States remains the world’s most productive economy and the largest market for ICT goods and services. This is likely to continue encouraging the nation’s economic growth and productivity, although at a slower pace.

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