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.

scholarly journals Desacoplamento entre as Emissões de CO2 e o PIB

2016 ◽  
Vol 2 (3) ◽  
pp. 37-53
Author(s):  
Yves Rocha De Salles Lima ◽  
Tatiane Stellet Machado ◽  
Joao Jose de Assis Rangel
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
International Energy Agency ◽  
The United States ◽  
Oil Price ◽  
Gdp Per Capita ◽  
Energy Agency ◽  
The Us ◽  
Per Capita ◽  
The One

The objetive of this work is to analyze the variation of CO2 emissions and GDP per capita throughout the years and identify the possible interaction between them. For this purpose, data from the International Energy Agency was collected on two countries, Brazil and the one with the highest GDP worldwide, the United States. Thus, the results showed that CO2 emissions have been following the country’s economic growth for many years. However, these two indicators have started to decouple in the US in 2007 while in Brazil the same happened in 2011. Furthermore, projections for CO2 emissions are made until 2040, considering 6 probable scenarios. These projections showed that even if the oil price decreases, the emissions will not be significantly affected as long as the economic growth does not decelerate.

scholarly journals The influence of demographic factors on the economic development of the Azerbaijan: the interconnection problem

2020 ◽  
Vol 10 (2) ◽  
Author(s):  
Saleh Nagiyev
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
18Th Century ◽  
Demographic Factors ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
World Population ◽  
Per Capita ◽  
The Impact

Demographic factors have sometimes occupied center-stage in the discussion of the sources of economic growth. In the 18th century, Thomas Malthus made the pessimistic forecast that GDP growth per capita would fall due to a continued rapid increase in world population. There is a straightforward accounting relationship when identifying the sources of economic growth: Growth Rate of GDP = Growth Rate of Population + Growth Rate of GDP per capita, where GDP per capita is simply GDP divided by population. This article examines the interconnection between economic development and the demographic policy of Azerbaijan. The article analyzes various approaches of the impact of demographic factors on the economic development of a country. The following demographic factors have been identified and described as significant for the economic development: fertility dynamics, mortality dynamics, population size and gender and age structure.

Analyzing the parameters of building the Russian capitalism

2021 ◽  
Vol 17 (12) ◽  
pp. 2295-2316
Author(s):  
Valerii V. SMIRNOV
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Russian Federation ◽  
Systems Approach ◽  
The United States ◽  
Gdp Per Capita ◽  
Goods And Services ◽  
The Russian Federation ◽  
Per Capita ◽  
The Government

Subject. The article addresses the Russian capitalism. Objectives. The purpose is to identify parameters of building the Russian capitalism. Methods. The study draws on the systems approach, using the methods of statistical, neural network, and cluster analysis. Results. The study revealed the parameters of building the Russian capitalism, like the structural balance of public administration, volatility in the growth rate of exports and imports of goods and services, a decrease in the growth rate of exports and imports of goods and services, net government lending and borrowing, GDP per capita, general government expenditure. The optimal cluster for building the Russian capitalism is the relationship between Russia and the United States in the context of GDP per capita in national currencies. The study expands the scope of knowledge and develops the competencies of the government of the Russian Federation to ensure the economic growth. Conclusions. The unveiled parameters of building the Russian capitalism, as well as understanding the reasons for the emergence of the Russian State capitalism as a form of merging of the American market economy and Chinese planned economy enable the government of the Russian Federation to effectively orient its actions towards economic growth.

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 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 Examining GDP Growth and Its Volatility: An Episodic Approach

Entropy ◽  
2021 ◽  
Vol 23 (7) ◽  
pp. 890
Author(s):  
Jakub Bartak ◽  
Łukasz Jabłoński ◽  
Agnieszka Jastrzębska
Keyword(s):  
Economic Growth ◽  
Genetic Algorithm ◽  
Time Series ◽  
Human Capital ◽  
Growth Rates ◽  
Structural Breaks ◽  
Negative Relationship ◽  
Gdp Per Capita ◽  
Gdp Growth ◽  
Per Capita

In this paper, we study economic growth and its volatility from an episodic perspective. We first demonstrate the ability of the genetic algorithm to detect shifts in the volatility and levels of a given time series. Having shown that it works well, we then use it to detect structural breaks that segment the GDP per capita time series into episodes characterized by different means and volatility of growth rates. We further investigate whether a volatile economy is likely to grow more slowly and analyze the determinants of high/low growth with high/low volatility patterns. The main results indicate a negative relationship between volatility and growth. Moreover, the results suggest that international trade simultaneously promotes growth and increases volatility, human capital promotes growth and stability, and financial development reduces volatility and negatively correlates with growth.

scholarly journals A spatially detailed blue water footprint of the United States economy

2018 ◽  
Vol 22 (5) ◽  
pp. 3007-3032 ◽  
Author(s):  
Richard R. Rushforth ◽  
Benjamin L. Ruddell
Keyword(s):  
United States ◽  
Water Use ◽  
Water Footprint ◽  
Virtual Water ◽  
The United States ◽  
Energy Information Administration ◽  
Blue Water ◽  
Consumptive Use ◽  
The Us ◽  
Per Capita

Abstract. This paper quantifies and maps a spatially detailed and economically complete blue water footprint for the United States, utilizing the National Water Economy Database version 1.1 (NWED). NWED utilizes multiple mesoscale (county-level) federal data resources from the United States Geological Survey (USGS), the United States Department of Agriculture (USDA), the US Energy Information Administration (EIA), the US Department of Transportation (USDOT), the US Department of Energy (USDOE), and the US Bureau of Labor Statistics (BLS) to quantify water use, economic trade, and commodity flows to construct this water footprint. Results corroborate previous studies in both the magnitude of the US water footprint (F) and in the observed pattern of virtual water flows. Four virtual water accounting scenarios were developed with minimum (Min), median (Med), and maximum (Max) consumptive use scenarios and a withdrawal-based scenario. The median water footprint (FCUMed) of the US is 181 966 Mm3 (FWithdrawal: 400 844 Mm3; FCUMax: 222 144 Mm3; FCUMin: 61 117 Mm3) and the median per capita water footprint (FCUMed′) of the US is 589 m3 per capita (FWithdrawal′: 1298 m3 per capita; FCUMax′: 720 m3 per capita; FCUMin′: 198 m3 per capita). The US hydroeconomic network is centered on cities. Approximately 58 % of US water consumption is for direct and indirect use by cities. Further, the water footprint of agriculture and livestock is 93 % of the total US blue water footprint, and is dominated by irrigated agriculture in the western US. The water footprint of the industrial, domestic, and power economic sectors is centered on population centers, while the water footprint of the mining sector is highly dependent on the location of mineral resources. Owing to uncertainty in consumptive use coefficients alone, the mesoscale blue water footprint uncertainty ranges from 63 to over 99 % depending on location. Harmonized region-specific, economic-sector-specific consumption coefficients are necessary to reduce water footprint uncertainties and to better understand the human economy's water use impact on the hydrosphere.

A NOTE ON THE IMPLICATIONS OF AUTOMATION FOR ECONOMIC GROWTH AND THE LABOR SHARE

2017 ◽  
Vol 23 (3) ◽  
pp. 1294-1301 ◽  
Author(s):  
Klaus Prettner
Keyword(s):  
United States ◽  
Economic Growth ◽  
Growth Rate ◽  
Population Growth ◽  
Capital Accumulation ◽  
Technological Progress ◽  
The United States ◽  
Economic Growth Rate ◽  
Labor Share ◽  
Long Run

We introduce automation into a standard model of capital accumulation and show that (i) there is the possibility of perpetual growth, even in the absence of technological progress; (ii) the long-run economic growth rate declines with population growth, which is consistent with the available empirical evidence; (iii) there is a unique share of savings diverted to automation that maximizes long-run growth; and (iv) automation explains around 14% of the observed decline of the labor share over the last decades in the United States.

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