World in 2050
... 1.2. Projections to 2050 This report updates our long-term global economic growth projections, which were last published in January 2011. These are based on a PwC model that takes account of projected trends in demographics, capital investment, education levels and technological progress. Chart 1 sh ...
... 1.2. Projections to 2050 This report updates our long-term global economic growth projections, which were last published in January 2011. These are based on a PwC model that takes account of projected trends in demographics, capital investment, education levels and technological progress. Chart 1 sh ...
Lessons From the Great Depression
... he Great Depression is perhaps the most catastrophic economic event in American history. It is also one of the most misunderstood. Misconceptions abound with regard to what actually happened. The Great Depression is a tragic story about economic illiteracy and the adverse impact of unsound policies. ...
... he Great Depression is perhaps the most catastrophic economic event in American history. It is also one of the most misunderstood. Misconceptions abound with regard to what actually happened. The Great Depression is a tragic story about economic illiteracy and the adverse impact of unsound policies. ...
Interactive Tool
... Changes in GDP from one year to the next reflect changes in the output of goods and services and changes in their prices. To provide a better understanding of what actually is occurring in the economy, real GDP is also calculated. In fact, these changes are more meaningful, as the changes in real GD ...
... Changes in GDP from one year to the next reflect changes in the output of goods and services and changes in their prices. To provide a better understanding of what actually is occurring in the economy, real GDP is also calculated. In fact, these changes are more meaningful, as the changes in real GD ...
January 2007 Implications for Fiscal Policy and Cross-Country Differences
... Section 2 outlines the association between the statutory tax rate and net tax revenue. Sections 4 and 5 map the association between tax constraints and growth in an endogenous growth model where current public goods or infrastructure are essential inputs. Section 6 identifies the association of debt ...
... Section 2 outlines the association between the statutory tax rate and net tax revenue. Sections 4 and 5 map the association between tax constraints and growth in an endogenous growth model where current public goods or infrastructure are essential inputs. Section 6 identifies the association of debt ...
President’s Report Board Directors
... effects that are expected to be temporary - namely higher oil prices and another sizeable drop in military spending - and growth is expected to pick up a bit over the rest of the year. While the recovery remains on course, persistant downside risks stemming from domestic fiscal issues and the Europe ...
... effects that are expected to be temporary - namely higher oil prices and another sizeable drop in military spending - and growth is expected to pick up a bit over the rest of the year. While the recovery remains on course, persistant downside risks stemming from domestic fiscal issues and the Europe ...
The Journal of African Development
... concentrations attracted a disproportionately high percentage of national industrial investments, modern infrastructure, and productive resources, as well as commercial, administrative, and educational facilities (Nwaka 2005). Rural migrants still have strong preference for state capitals (de Haas 2 ...
... concentrations attracted a disproportionately high percentage of national industrial investments, modern infrastructure, and productive resources, as well as commercial, administrative, and educational facilities (Nwaka 2005). Rural migrants still have strong preference for state capitals (de Haas 2 ...
Economics Principles and Applications
... • …for the market… – GDP does not include all final goods and services produced in the economy • Includes only the ones produced for the market—that is, with the intention of being sold. • Example: ‘Do it yourself’ activities ...
... • …for the market… – GDP does not include all final goods and services produced in the economy • Includes only the ones produced for the market—that is, with the intention of being sold. • Example: ‘Do it yourself’ activities ...
The Demise of US Economic Growth
... A controversy about the future of U.S. economic growth was ignited by my paper released in late summer 2012. 1 The debate began with my prediction that over some indefinite period of time into the future, perhaps 25 to 40 years, the growth of real per-capita disposable income of the bottom 99 percen ...
... A controversy about the future of U.S. economic growth was ignited by my paper released in late summer 2012. 1 The debate began with my prediction that over some indefinite period of time into the future, perhaps 25 to 40 years, the growth of real per-capita disposable income of the bottom 99 percen ...
Manpower Options in a Small Labor-Importing state:
... manpower, particularly from Korea and the Philippines, added a new element to the country's demographic pattern. 8 The gradual departure of skilled Arabs increased the proportion of Asians in the population and at the time of the invasion they made up more than half the foreign labour force. 9 Speci ...
... manpower, particularly from Korea and the Philippines, added a new element to the country's demographic pattern. 8 The gradual departure of skilled Arabs increased the proportion of Asians in the population and at the time of the invasion they made up more than half the foreign labour force. 9 Speci ...
Tarik Yousef, Development, Growth and Policy Reform in the Middle
... A third key factor in the interventionist-redistributive model was the presence of oil revenues, which played a pivotal role in sustaining the development model in both the oil exporting and nonexporting states (Beblawi and Luciani, 1987; Chaudhry, 1997). For major oil producers like Algeria, Iraq a ...
... A third key factor in the interventionist-redistributive model was the presence of oil revenues, which played a pivotal role in sustaining the development model in both the oil exporting and nonexporting states (Beblawi and Luciani, 1987; Chaudhry, 1997). For major oil producers like Algeria, Iraq a ...
Stephen L. Parente Edward C. Prescott Working
... postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective tax rates on the returns to adopting technologies must be to account for the huge observed disparity in per capita income across ...
... postwar Japan growth experiences. Using this calibrated structure we explore how large the disparity in the effective tax rates on the returns to adopting technologies must be to account for the huge observed disparity in per capita income across ...
Social Cohesion and Development
... From the above analysis it is understood that green growth comes through increasing the ecoefficiency of consumption and production and creating a synergy between the economy and the environment (Chung and Lee, 2005: 2). Four years later, in June 2009, the Ministerial Council Meeting of the OECD’s m ...
... From the above analysis it is understood that green growth comes through increasing the ecoefficiency of consumption and production and creating a synergy between the economy and the environment (Chung and Lee, 2005: 2). Four years later, in June 2009, the Ministerial Council Meeting of the OECD’s m ...
PDF Download
... see whether the dispersion of GDP per employee distribution decreased over time (σ-convergence).1 Figure 3.1 shows the EU27 regions where the horizontal axis shows the productivity level in 1991 and the vertical axis represents subsequent average growth over a 20 year period. The figure also indicat ...
... see whether the dispersion of GDP per employee distribution decreased over time (σ-convergence).1 Figure 3.1 shows the EU27 regions where the horizontal axis shows the productivity level in 1991 and the vertical axis represents subsequent average growth over a 20 year period. The figure also indicat ...
Transformation in economics
Transformation in economics refers to a long-term change in dominant economic activity in terms of prevailing relative engagement or employment of able individuals.Human economic systems undergo a number of deviations and departures from the ""normal"" state, trend or development. Among them are Disturbance (short-term disruption, temporary disorder), Perturbation (persistent or repeated divergence, predicament, decline or crisis), Deformation (damage, regime change, loss of self-sustainability, distortion), Transformation (long-term change, restructuring, conversion, new “normal”) and Renewal (rebirth, transmutation, corso-ricorso, renaissance, new beginning).Transformation is a unidirectional and irreversible change in dominant human economic activity (economic sector). Such change is driven by slower or faster continuous improvement in sector productivity growth rate. Productivity growth itself is fueled by advances in technology, inflow of useful innovations, accumulated practical knowledge and experience, levels of education, viability of institutions, quality of decision making and organized human effort. Individual sector transformations are the outcomes of human socio-economic evolution.Human economic activity has so far undergone at least four fundamental transformations:From nomadic hunting and gathering (H/G) to localized agricultureFrom localized agriculture (A) to internationalized industryFrom international industry (I) to global servicesFrom global services (S) to public sector (including government, welfare and unemployment, GWU)This evolution naturally proceeds from securing necessary food, through producing useful things, to providing helpful services, both private and public (See H/G→A→I→S→GWU sequence in Fig. 1). Accelerating productivity growth rates speed up the transformations, from millennia, through centuries, to decades of the recent era. It is this acceleration which makes transformation relevant economic category of today, more fundamental in its impact than any recession, crisis or depression. The evolution of four forms of capital (Indicated in Fig. 1) accompanies all economic transformations.Transformation is quite different from accompanying cyclical recessions and crises, despite the similarity of manifested phenomena (unemployment, technology shifts, socio-political discontent, bankruptcies, etc.). However, the tools and interventions used to combat crisis are clearly ineffective for coping with non-cyclical transformations. The problem is whether we face a mere crisis or a fundamental transformation (globalization→relocalization).