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http://ssrn.com/abstract=1912362
 
 

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Potential Growth of the World Economy


Dale W. Jorgenson


Harvard University - Department of Economics; National Bureau of Economic Research (NBER)

Khuong M. Vu


Lee Kuan Yew School of Public Policy

August 3, 2010

Journal of Policy Modeling, Vol. 32, No. 5, 2010
Lee Kuan Yew School of Public Policy Research Paper No. PP10-15

Abstract:     
This paper introduces a new framework for projecting potential growth of the world economy, emphasizing the contribution of information technology. We first analyze the sources of economic growth for the world economy, seven regions, and fourteen major economies during four periods- 1989–1995, 1995–2000, 2000–2004, and 2004–2008. The contribution of investment in information technology has increased in all regions, but especially in industrialized economies and Developing Asia. We then project the potential growth rates of labor productivity and GDP for 122 economies over the ten-year period 2009–2019. Relative to historical growth for 1989–2008, we project lower growth rates for productivity and GDP.

Number of Pages in PDF File: 29

Keywords: growth, information technology, investment, productivity

JEL Classification: O47

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Date posted: August 19, 2011 ; Last revised: May 8, 2014

Suggested Citation

Jorgenson , Dale W. and Vu, Khuong M., Potential Growth of the World Economy (August 3, 2010). Journal of Policy Modeling, Vol. 32, No. 5, 2010 ; Lee Kuan Yew School of Public Policy Research Paper No. PP10-15. Available at SSRN: http://ssrn.com/abstract=1912362

Contact Information

Dale W. Jorgenson
Harvard University - Department of Economics ( email )
Littauer Center
Room 122
Cambridge, MA 02138
United States
617-495-4661 (Phone)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Khuong M. Vu (Contact Author)
Lee Kuan Yew School of Public Policy ( email )
Singapore 117591
Singapore
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