Understanding Economic Growth: A Macro-level, Industry-level, and Firm-level Perspective - Softcover
Synopsis
Growth patterns through the 1990s and into this decade turned received wisdom on its head. For most of the post-war period OECD countries with relatively low GDP per capita grew faster than richer countries. In the 1990s this pattern broke down. Most notably, the United States, with already a relatively high level of GDP per capita among the world's major economies, drew further ahead of the field starting in the second half of the 1990s. Contrarily, Europe and Japan remained comparatively weak.
What are the root causes of the divergence in growth across the OECD? This book analyses the sources of economic growth at the macro-economic-level, the industry-level and the firm-level. It also examines how much of it can be attributed to new technologies and R&D. In 2000, at the height of the new economy, information technology (IT) was hailed as a technology that would radically transform OECD economies and bring large economic benefits. But the recent economic slowdown has laid to rest several of the myths surrounding IT.
This publication provides a comprehensive overview of these issues and new insights on what drives economic growth in OECD countries.
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About the Author
The OECD is the international organization for the industrialized, market-economy countries. At the OECD, representatives from 30 Member countries meet to exchange information and harmonize policy with a view to maximizing economic growth within Member countries and assist non-member countries develop more rapidly.
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