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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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    1. Stefano Scarpetta & Andrea Bassanini & Dirk Pilat & Paul Schreyer, 2000. "Economic Growth in the OECD Area: Recent Trends at the Aggregate and Sectoral Level," OECD Economics Department Working Papers 248, OECD Publishing.
    2. Gruber, Harald & Verboven, Frank, 2001. "The diffusion of mobile telecommunications services in the European Union," European Economic Review, Elsevier, vol. 45(3), pages 577-588, March.
    3. Andrea Bassanini & Stefano Scarpetta, 2002. "Growth, Technological Change, and ICT Diffusion: Recent Evidence from OECD Countries," Oxford Review of Economic Policy, Oxford University Press, vol. 18(3), pages 324-344.
    4. Bart van Ark & Robert Inklaar & Robert H. McGuckin, 2002. "'Changing Gear' - Productivity, ICT and Services Industries: Europe and the United States," Economics Program Working Papers 02-02, The Conference Board, Economics Program.
    5. Eric Bartelsman & Andrea Bassanini & John Haltiwanger & Ron Jarmin & Stefano Scarpetta & Thorsten Schank, 2002. "The Spread of ICT and Productivity Growth: Is Europe Really Lagging Behind in the New Economy?," CEPN Working Papers halshs-00289168, HAL.
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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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