In response to a succession of grave challenges, including mounting protectionism and the Covid-19 pandemic, we adopted new ways of conducting macro regulation and avoided overreliance on investment as a means of achieving economic growth. We employed a wide range of policies including fiscal and ...
7 Long-Run Economic Growth: Sources and Policies Chapter Summary In the long-run, a country will experience increasing standards of living only if it experiences continuing technological change. This chapter looks at the differences in economic growth rates over time and the differences in growth ...
Industrial activity: The manufacturing sector saw back-to-back quarterly growth for the first time since 2022, although the pace of expansion was marginal at 0.1 percent in the third quarter and lower than the 0.3 percent growth in the second quarter. Output was mixed across the manufacturing ...
Rapid economic growth over the last 50 years has helped sustain and create jobs around the world, which propels consumer spending and creates a tax base to support infrastructure, healthcare, and social services. As a result, in recent decades hundreds of millions of people have lifted themselve...
economic growth, the process by which a nation’s wealth increases over time. Although the term is often used in discussions of short-term economic performance, in the context of economic theory it generally refers to an increase in wealth over an extended period. (Read Milton Friedman’s Brit...
The endogenous growth supporters, who hold that technological advances drive economic development, believe that this kind of growth takes place gradually. MNCs are believed to be the necessary catalytic institutions that enable the creation and transferability of knowledge internationally (deliberately and ...
Moreover, to alleviate the economic growth losses, we suggest setting up a sustainable development sharing mechanism among regions. Keywords: globalization; digital economy; human capital; sustainable development; RCEP economies1. Introduction The progression of humanity as a whole for the past few ...
One category that saw strong spending growth other than autos was non-store retailing, which is mostly internet-based retailing. This type of spending was up 1.8% from the previous month and up 9.8% from a year earlier. This suggests that the share of holiday spending that takes place online...
Places are defined over time by an evolutionary process. The purpose of this chapter is to summarize recent work on innovation and location in light of these themes, and to consider how these stylized facts shed light on the broader process of technological change and economic growth. ...
"The wealth of a country is measured by the abundance of its people." Thanks to considerable economic growth, the Chinese people are living much better lives. Nonetheless, we are soberly aware that to meet people's aspiration for an even better life, we still have much hard work to do in...