Actual and projected GDP per capita, the United States and the euro area

Beyond GDP ◽  
2018 ◽  
Keyword(s):  
United States ◽  
Euro Area ◽  
The United States ◽  
Gdp Per Capita ◽  
Per Capita

China’s Economic Development

2020 ◽  
Author(s):  
Lawrence J. Lau
Keyword(s):  
United States ◽  
Exchange Rate ◽  
Economic Reform ◽  
The United States ◽  
Gdp Per Capita ◽  
Free Markets ◽  
Real Gdp ◽  
The World ◽  
Real Gdp Per Capita ◽  
Per Capita

Chinese real gross domestic product (GDP) grew from US$369 billion in 1978 to US$12.7 trillion in 2017 (in 2017 prices and exchange rate), at almost 10% per annum, making the country the second largest economy in the world, just behind the United States. During the same period, Chinese real GDP per capita grew from US$383 to US$9,137 (2017 prices), at 8.1% per annum. Chinese economic reform, which began in 1978, consists of two elements—introduction of free markets for goods and services, coupled with conditional producer autonomy, and opening to international trade and direct investment with the rest of the world. In its transition from a centrally planned to a market economy, China employed a “dual-track” approach—with the pre-existing mandatory central plan continuing in force and the establishment of free markets in parallel. In its opening to the world, China set a competitive exchange rate for its currency, made it current account convertible in 1994, and acceded to the World Trade Organisation (WTO) in 2001. In 2005, China became the second largest trading nation in the world, after the United States. Other Chinese policies complementary to its economic reform include the pre-existing low non-agricultural wage and the limit of one-child per couple, introduced in 1979 and phased out in 2016. The high rate of growth of Chinese real output since 1978 can be largely explained by the high rates of growth of inputs, but there were also other factors at work. Chinese economic growth since 1978 may be attributed as follows: (a) the elimination of the initial economic inefficiency (12.7%), (b) the growth of tangible capital (55.7%) and labor (9.7%) inputs, (c) technical progress (or growth of total factor productivity (TFP)) (8%), and (d) economies of scale (14%). The Chinese economy also shares many commonalities with other East Asian economies in terms of their development experiences: the lack of natural endowments, the initial conditions (the low real GDP per capita and the existence of surplus agricultural labor), the cultural characteristics (thrift, industry, and high value for education), the economic policies (competitive exchange rate, export promotion, investment in basic infrastructure, and maintenance of macroeconomic stability), and the consistency, predictability, and stability resulting from continuous one-party rule.

scholarly journals The Determinants of Indonesian Textile’s and Clothing Export to the Five Countries of Export Destination

ETIKONOMI ◽  
2020 ◽  
Vol 19 (1) ◽  
pp. 19-30 ◽  
Author(s):  
Faizal Irvansyah ◽  
Hermanto Siregar ◽  
Tanti Novianti
Keyword(s):  
United States ◽  
Time Series ◽  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
The United States ◽  
Destination Country ◽  
Gdp Per Capita ◽  
Per Capita ◽  
Export Destination

Indonesian textile and clothing products (TPT) is the second-largest export product after oil palm product. There are five biggest export destination countries, that is the United States, Japan, South Korea, and Turkey. This study aims to analyze the factors that affect TPT exports to the five biggest export destination countries. The factors that affect TPT exports examined by using time series and panel data analysis. Using panel data analysis finds that GDP per capita of the destination country, the exchange rate of the Rupiah, the price of textiles in the destination country, and import tariffs stipulate in the destination country affect TPT exports. Then, using time series analysis finds that GDP per capita and import tariffs affected TPT export to the United States, China, and Turkey. Meanwhile, the factors influencing Indonesian textile exports to Japan and South Korea are textile prices, rupiah exchange rates, and import tariffs.JEL Classification: F14, F43How to Cite:Irvansyah, F., Siregar, H., & Novianti, T. (2020). The Determinants of Indonesian Textile’s and Clothing Export to the Five Countries of Export Destination. Etikonomi: Jurnal Ekonomi, 19(1), 19 – 30. https://doi.org/10.15408/etk.v19i1.14845.

Economic Growth in the United States, 1790 to 1860

2019 ◽  
Author(s):  
Thomas Weiss
Keyword(s):  
United States ◽  
Economic Growth ◽  
The United States ◽  
Gdp Per Capita ◽  
Free Standing ◽  
Early 19Th Century ◽  
Modern Economic Growth ◽  
Modern Economic ◽  
Per Capita ◽  
The U.S

In the early 21st century, the U.S. economy stood at or very near the top of any ranking of the world’s economies, more obviously so in terms of gross domestic product (GDP), but also when measured by GDP per capita. The current standing of any country reflects three things: how well off it was when it began modern economic growth, how long it has been growing, and how rapidly productivity increased each year. Americans are inclined to think that it was the last of these items that accounted for their country’s success. And there is some truth to the notion that America’s lofty status was due to the continual increases in the efficiency of its factors of production—but that is not the whole story. The rate at which the U.S. economy has grown over its long history—roughly 1.5% per year measured by output per capita—has been modest in comparison with most other advanced nations. The high value of GDP per capita in the United States is due in no small part to the fact that it was already among the world’s highest back in the early 19th century, when the new nation was poised to begin modern economic growth. The United States was also an early starter, so has experienced growth for a very long time—longer than almost every other nation in the world. The sustained growth in real GDP per capita began sometime in the period 1790 to 1860, although the exact timing of the transition, and even its nature, are still uncertain. Continual efforts to improve the statistical record have narrowed down the time frame in which the transition took place and improved our understanding of the forces that facilitated the transition, but questions remain. In order to understand how the United States made the transition from a slow-growing British colony to a more rapidly advancing, free-standing economy, it is necessary to know more precisely when it made that transition.

scholarly journals The Trajectory of the United States in the World-System: A Quantitative Reflection

2005 ◽  
Vol 48 (2) ◽  
pp. 233-254 ◽  
Author(s):  
Christopher Chase-Dunn ◽  
Andrew K. Jorgenson ◽  
Thomas E. Reifer ◽  
Shoon Lio
Keyword(s):  
United States ◽  
Seventeenth Century ◽  
Quantitative Study ◽  
Historical Perspective ◽  
The United States ◽  
Gdp Per Capita ◽  
System A ◽  
The World ◽  
Per Capita ◽  
The U.S

Using improved estimates of world and country GDPs, population, and GDP per capita published by Angus Maddison (2001), we report findings of a quantitative study of the trajectory of the United States in world historical perspective. We compare the U.S. economic hegemony of the twentieth century with the seventeenth-century Dutch hegemony and the British hegemony of the nineteenth century. We also track the trajectories of challengers and discuss the future of hegemonic rivalry and global governance. Our findings support the existence of a sequence of hegemonic rises and declines. Despite a recent plateau in the decline of U.S. economic hegemony, we contend that the United States will continue to decline.

scholarly journals Mental health research in the Arab world: an update

2015 ◽  
Vol 12 (S1) ◽  
pp. S-25-S-28 ◽  
Author(s):  
Elie G. Karam ◽  
Lynn A. Itani
Keyword(s):  
Mental Health ◽  
United States ◽  
Health Research ◽  
Research Output ◽  
Arab World ◽  
The United States ◽  
Mental Health Research ◽  
Arab Countries ◽  
Gdp Per Capita ◽  
Per Capita

Publications on mental health were collected using PubMed and PsychINFO for 21 Arab countries. The data were then categorised according to the first author's country of affiliation, the year of publication, the topic of research and the type of journal. In 2006–12, the Arab world published 1029 articles (an average of 147 per year). The estimated increase in yearly productivity during this period was about 25% over the 7 preceding years. When considering the research output per million population, Kuwait, Bahrain and Lebanon were the top three producers, as they had been over the preceding four decades. After adjusting for gross domestic product (GDP) per capita, the five top producers were Egypt, Jordan, Tunisia, Lebanon and Morocco. Based on child and adolescent mental health research only, the Arab world's productivity was around one-sixth that of the United States and Europe.

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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