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New Tendencies in the Economic Growth of EC and USA: Comparative Analysis

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  • Atanas Leonidov

Abstract

Based on key macroeconomic indexes (real GDP per capita, labor productivity, share of costs from GDP for information and communication technologies (ICT), costs in the R&D sector, education and training, etc.), analyzed are the dynamic changes in the economic potentials of USA and EC. Central part occupies the rationalizing of the tendency from convergence towards divergence from the middle of the 90s in the development of the two most powerful centers in the world economy. Analyzed are the conditions and factors for the front running dynamics of the US economy, the challenges for Europe, the institutional and structural weaknesses of the national economies of EU, the question for the choice of catching up growth strategy and perspectives for emerging of “new economy”.

Suggested Citation

  • Atanas Leonidov, 2004. "New Tendencies in the Economic Growth of EC and USA: Comparative Analysis," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 3-29.
    • Handle: RePEc:bas:econst:y:2004:i:2:p:3-29
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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