The Rise of Asia and the Transformation of the World Economy by Dale W. Jorgenson Samuel W. Morris University Professor Harvard University

Slides:

Advertisements

Similar presentations

First World KLEMS conference

Advertisements

THE EU IN THE WORLD ECONOMY By Dale W. Jorgenson Harvard University March 15, European Union.

From Productivity Analysis in Asia to Creating Asia KLEMS Database The 1 st World KLEMS Conference August 19-20, 2010 Tsutomu Miyagawa (GakushuinUniversity)

Dale Jorgenson, Mun Ho, Jon Samuels

15 CHAPTER Growth, Inflation and Cycles © Pearson Education 2012 After studying this chapter you will be able to:  Define economic growth rate and explain.

Long-term Estimates of U.S. Productivity and Growth by Dale W. Jorgenson, Mun S. Ho, and Jon D. Samuels ** Harvard University, and ** BEA The views expressed.

UNDERSTANDING THE KNOWLEDGE ECONOMY By Dale W. Jorgenson Samuel W. Morris University Professor Harvard University

Professor Roy Green, Prime Minister’s Manufacturing Taskforce Public Forum 31 August 2012 Radford Auditorium, Art Gallery of South Australia Smarter Manufacturing.

McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies, All Rights Reserved Chapter 7 Economic Growth.

15 CHAPTER Growth, Inflation and Cycles © Pearson Education 2012 After studying this chapter you will be able to:  Define economic growth rate and explain.

MACROECONOMICS AND THE GLOBAL BUSINESS ENVIRONMENT The Wealth of Nations The Supply Side.

The Role of Latin America in the World Economy By Dale W. Jorgenson Harvard University October 6, 2008 Seminario Internacional Fundacion BBVA – Ivie 2008.

UK and Global Economic Insights Dr Andrew Sentance Senior Economic Adviser, PwC Hospitality and Tourism Summit 2015 London, 30 th June 2015.

The Rise and Fall of modern empires Part IIIb What drives economic growth: population vs. income per capita improvement Countries’ analysis Created by.

Macau and the Asian MICE Industry MCEA Forum Outlook of the Asian MICE Industry and Macau’s Role and Positioning in this Development.

Andrew Sentence CBE Senior Economic Advisor, PwC ECONOMIC INSIGHT.

Figure 14.1 Economic Growth in the ADE/ASR model.

ZHANG Xiaojing Institute of Economics, Chinese Academy of Social Sciences Budapest, June, 2011 Transformation of China ’ s Growth Model.

Introduction to growth: some facts Prof. Hartmut Lehmann Dipartimento di Scienze Economiche.

Israel in a Global Perspective The Israel Business Conference December 2010 Prof. Eugene Kandel Head of National Economic Council Prime Minister’s Office.

India A growing economy. India: rising GDP growth % average annual GDP growth 1900 – – – – What do.

MACROECONOMICS UNDERSTANDING THE GLOBAL ECONOMY The Wealth of Nations The Supply Side Copyright © 2012 John Wiley & Sons, Inc. All rights reserved.

MACROECONOMICS AND THE GLOBAL BUSINESS ENVIRONMENT The Wealth of Nations The Supply Side Copyright © 2005 John Wiley & Sons, Inc. All rights reserved.

The Future of the BRICs & the Next 11 Global. The Global Economy.

9. Fundamental Concepts of Macroeconomics 1.Objectives and Methods of Macroeconomics 2.Economic Growth 3.National Accounting.

Do Now: What is labor productivity? How does labor productivity relate to long- term economic growth?

1 Defining Economic Growth Economic growth: an increase in Real GDP. Small changes in rates of growth  Big changes over many years Compound Growth Rule.

1 U.S. Science & Technology: Issues and Outlook by Erich Bloch Director September 26, 2005.

1 A comparison of productivity in France, Japan, the United Kingdom and the United States over the past century Gilbert Cette Yusuf Kocoglu Jacques Mairesse.

Economics 1490 GROWTH AND CRISIS IN THE WORLD ECONOMY with Professor Dale W. Jorgenson Lecture 26: December 3, 2015 Outlook for World Economic Growth Harvard.

Copyright McGraw-Hill/Irwin, 2005 Growth Economics Production Possibilities Analysis Supply Determinants of Real Output Growth in the AD-AS Model.

BRIC Countries. What is BRIC ? An acronym for the economies of Brazil, Russia, India and China combined. The term was first prominently used in a Goldman.

G8 Group of Eight. G8 G8 G Originally G7 - France, Germany, Italy, Japan, Britain, Canada and the U.S Originally G7 - France, Germany,

Copyright 2008 The McGraw-Hill Companies 16-1 Ingredients of Growth Production Possibilities Labor and Productivity Growth in the AD-AS Model Accounting.

Third Asia KLEMS Conference August 2015 Structural Change and Productivity Growth in Asian Countries: Empirical Evidence and Singapore’s Experience.

DIVERSITY IN THE CONVERGENCE PROCESS OF ACCESSION COUNTRIES Urmas Varblane University of Tartu ASIAN CENTURY? – THE GROWING ROLE OF ASIA Urmas Varblane,

A PROTOTYPE INDUSTRY-LEVEL PRODUCTION ACCOUNT FOR THE UNITED STATES, Dale Jorgenson, Mun Ho, Jon Samuels Harvard University Asia KLEMS 2012 Data.

THE WORLD ECONOMY: PERFORMANCE AND OUTLOOK by Dale W. Jorgenson Harvard University World KLEMS Open Session: Europe’s.

ECONOMIC GROWTH One tool can have many uses!

Education, Participation, and the Revival of U.S. Economic Growth Dale Jorgenson, Mun Ho, Jon Samuels ** Harvard University, and ** BEA World KLEMS Conference.

U.S. Growth and Productivity using new National Accounts with Intellectual Property Dale Jorgenson, Mun Ho, Jon Samuels ** Harvard University, and ** BEA.

Vu Pham Productivity Comparison and Convergence in East Asia Hak K. Pyo Professor Emeritus School of Economics, Seoul National University Hak K. Pyo Productivity.

Taking a Long View of Economic Growth Potential: Some Numbers and Implications The Global Institute Conferences Second Annual China-Russia.

for Advanced Economies

Lecture 3. PURCHASING POWER PARITIES

ECONOMIC GROWTH Pertemuan 13

THE WORLD ECONOMY: GROWTH AND CRISIS

∆lnq = ∆lnA + α ∆lnk (where ∆lnA = ∆lnTFP = ∆lnq – α ∆lnk) average annual growth rates Dlnq DlnA Japan

UNLEASHING THE POTENTIAL OF INDUSTRIES

GROWTH AND CRISIS IN THE Outlook for the World Economy

Lecture 5. GLOBALIZATION AND COMPETITIVENESS

Monetary Policy Report July 2011

GROWTH AND CRISIS IN THE Globalization and the Collapse of Trade

Lecture 2. THE WORLD ECONOMY SINCE 1990

Monetary Policy Update December 2010

Lecture 22. INVESTING IN HUMAN CAPITAL

Lecture 16. IS ASIA’S MIRACLE A MYTH?

Lecture 17. REVIVING JAPANESE ECONOMIC GROWTH

Lecture 11. U.S. Growth Resurgence

Lecture 5. GLOBALIZATION AND COMPETITIVENESS

Information Technology and the World Economy

IS ASIA’S MIRACLE A MYTH?

Stimulating Economic Growth

PURCHASING POWER PARITIES

Industrial Origins of the US productivity revival

Recent U.S. Economic Performance and Prospects for the Future

Lecture 26. World Economic Outlook

GROWTH AND CRISIS IN THE U.S. Growth Resurgence and European Slowdown

Will Bangladesh have only 4.1% GDP growth rate in 2026?

By Mun S. Ho* Based on work with Dale Jorgenson* and Jon Samuels**

Presentation transcript:

The Rise of Asia and the Transformation of the World Economy by Dale W. Jorgenson Samuel W. Morris University Professor Harvard University Public Forum: The Third Asia KLEMS Conference Taipei, Taiwan – August 13, 2015 Asia's Revival - The New Economic Driver

THREE MAJOR TRENDS IN THE WORLD ECONOMY CHINA OVERTAKES THE U.S.: The U.S. Has Been the World’s Leading Economy for a Century WORLD ECONOMIC GROWTH ACCELERATES: Mainly Due to China with a Contribution from India THE NEW WORLD ORDER IN 2022: China, U.S., India, Japan, Germany, Russia, Brazil

SOURCES OF WORLD ECONOMIC GROWTH LABOR INPUT GROWTH: Hours Worked and Labor Quality THE SOURCES OF ECONOMIC GROWTH: Capital Input, Labor Input, and Productivity CAPITAL INPUT GROWTH: Information and Non-Information Technology TOTAL FACTOR PRODUCTIVITY Output per Unit of Input

Sources of World Economic Growth, Annual percentage growth rates

Sources of World Economic Growth Annual percentage growth rates

Sources of G7 Economic Growth Annual percentage growth rates

Sources of BRICS Economic Growth Annual percentage growth rates

DEMOGRAPHICS: Hours Worked from Labor Force Projections; Labor Quality from Educational Attainment LABOR PRODUCTIVITY: Growth of TFP, Capital and Labor Quality, and the Gap between Output and Capital GDP GROWTH: Sum of the Growth of Hours Worked and Labor Productivity PROJECTING GROWTH OF THE WORLD ECONOMY

World Productivity Growth Projections, Annual percentage growth rates

World Growth Projections, Annual percentage growth rates

Growth Projections for the World Economy Annual percentage growth rates

Growth Projections for the G7 Economy Annual percentage growth rates

Growth Projections for the BRICS Economy Annual percentage growth rates

New Economic Order 2022 Percentage shares of world GDP

RESEARCH ON ECONOMIC GROWTH: Growth of Input Greatly Exceeds TFP Growth; Most Growth is Replication Not Innovation OFFICIAL STATISTICS: Growth Is Now Included in Our National Accounts; This Involves a New Architecture for the Accounts THE ASIAN MODEL OF ECONOMIC GROWTH: The Special Sauce Is Globalization and the Accumulation of Human and Nonhuman Capital The Rise of Asia and the New World Order