IDEAS home Printed from https://ideas.repec.org/a/eee/jpolmo/v43y2021i4p770-782.html
   My bibliography  Save this article

The G20 and the world economy: Performance and prospects

Author

Listed:
  • Jorgenson, Dale W.
  • Vu, Khuong M.

Abstract

In the twenty-first century the balance of world economic growth has shifted from the G7 industrialized economies, led by Europe, Japan, and the United States, to the emerging economies of Asia, especially China and India. While world growth will continue at a rapid pace, members of the G7 will grow more slowly than the world economy, while China and India will grow more rapidly. Growth in the advanced economies will recover from the financial and economic crisis of the past decade, but a longer-term trend toward slower economic growth will be re-established.

Suggested Citation

  • Jorgenson, Dale W. & Vu, Khuong M., 2021. "The G20 and the world economy: Performance and prospects," Journal of Policy Modeling, Elsevier, vol. 43(4), pages 770-782.
    • Handle: RePEc:eee:jpolmo:v:43:y:2021:i:4:p:770-782
    DOI: 10.1016/j.jpolmod.2021.02.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0161893821000338
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jpolmod.2021.02.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Dale W. Jorgenson & Khuong Vu, 2005. "Information technology and the world economy," Proceedings, Federal Reserve Bank of San Francisco.
    2. Timmer,Marcel P. & Inklaar,Robert & O'Mahony,Mary & Ark,Bart van, 2013. "Economic Growth in Europe," Cambridge Books, Cambridge University Press, number 9781107412446, Enero-Abr.
    3. Dale W. Jorgenson & Mun S. Ho & Kevin J. Stiroh, 2005. "Productivity, Volume 3: Information Technology and the American Growth Resurgence," MIT Press Books, The MIT Press, edition 1, volume 3, number 0262101114, December.
    4. World Bank, 2000. "Global Economic Prospects and the Developing Countries 2000," World Bank Publications - Books, The World Bank Group, number 14776, April.
    5. Dale W. Jorgenson & Paul Schreyer, 2013. "Industry-Level Productivity Measurement And The 2008 System Of National Accounts," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 59(2), pages 185-211, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Göçoğlu, Volkan & Göksu, Serkan, 2024. "How do industrialization and agricultural land use affect urban population in Turkey? Policy implications in the context of SDGs," Journal of Policy Modeling, Elsevier, vol. 46(1), pages 198-211.
    2. Giulio Cornelli & Jon Frost & Jonathan Warren & Clair Yang & Carolina Velásquez, 2024. "Retail fast payment systems as a catalyst for digital finance," BIS Working Papers 1228, Bank for International Settlements.
    3. Chada, Swechha, 2023. "Economic policy uncertainties and institutional ownership in India," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    4. Trabelsi, Nader, 2023. "Spillovers and predictability between Saudi Arabia and global financial Markets: Evidence from G20 countries," The North American Journal of Economics and Finance, Elsevier, vol. 68(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jorgenson, Dale W. & Ho, Mun S. & Samuels, Jon D., 2016. "The impact of information technology on postwar US economic growth," Telecommunications Policy, Elsevier, vol. 40(5), pages 398-411.
    2. K L Krishna & Deb Kusum Das & Abdul A Erumban & Suresh Aggarwal & Pilu Chandra Das, 2016. "Productivity Dynamics In India’S Service Sector: An Industry-Level Perspective," Working papers 261, Centre for Development Economics, Delhi School of Economics.
    3. Jorgenson, Dale W., 2016. "Econometric general equilibrium modeling," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 436-447.
    4. Bishwanath Goldar & K. L. Krishna & Suresh Chand Aggarwal & Deb Kusum Das & Abdul Azeez Erumban & Pilu Chandra Das, 2017. "Productivity growth in India since the 1980s: the KLEMS approach," Indian Economic Review, Springer, vol. 52(1), pages 37-71, December.
    5. Wulong Gu, 2018. "Accounting for Slower Productivity Growth in the Canadian Business Sector after 2000: The Role of Capital Measurement Issues," International Productivity Monitor, Centre for the Study of Living Standards, vol. 34, pages 21-39, Spring.
    6. Ilya B. Voskoboynikov, 2023. "Sources of productivity growth in Eastern Europe and Russia before the global financial crisis," Journal of Productivity Analysis, Springer, vol. 59(3), pages 225-241, June.
    7. Claudio Aravena F. & André A. Hofman & Luis Eduardo Escobar F., 2018. "Fuentes del crecimiento económico y la productividad en América Latina y el Caribe, 1990-2013," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 21(1), pages 034-066, April.
    8. Robert Inklaar & Marcel P. Timmer, 2012. "Productivity Convergence Across Industries and Countries: The Importance of Theory-based Measurement," Chapters, in: Matilde Mas & Robert Stehrer (ed.), Industrial Productivity in Europe, chapter 11, Edward Elgar Publishing.
    9. K L Krishna & Abdul A Erumban & Bishwanath Goldar & Deb Kusum Das & Suresh Chand Aggarwal & Pilu Chandra Das, 2018. "ICT investment and economic growth in India: An industry perspective," Working papers 284, Centre for Development Economics, Delhi School of Economics.
    10. Raquel Ortega‐Argilés & Mariacristina Piva & Marco Vivarelli, 2014. "The transatlantic productivity gap: Is R&D the main culprit?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 47(4), pages 1342-1371, November.
    11. Amat Adarov & Robert Stehrer, 2019. "Tangible and Intangible Assets in the Growth Performance of the EU, Japan and the US," wiiw Research Reports 442, The Vienna Institute for International Economic Studies, wiiw.
    12. Dale W. Jorgenson & Marcel P. Timmer, 2011. "Structural Change in Advanced Nations: A New Set of Stylised Facts," Scandinavian Journal of Economics, Wiley Blackwell, vol. 113(1), pages 1-29, March.
    13. K L Krishna & Suresh Chand Aggarwal & Bishwanath Goldar & Deb Kusum Das & Abdul A Erumban & Pilu Chandra Das, 2018. "Trends and Patterns in Labour Quality in India at Sectoral Level," Working papers 285, Centre for Development Economics, Delhi School of Economics.
    14. Thomas von Brasch & Ådne Cappelen & Diana‐Cristina Iancu, 2018. "Measuring Labour Services: Quality‐Adjusting the Entry and Exit of Workers," Scandinavian Journal of Economics, Wiley Blackwell, vol. 120(2), pages 597-623, April.
    15. Marcel P. Timmer & Robert Inklaar & Mary O'Mahony & Bart van Ark, 2011. "Productivity and Economic Growth in Europe: A Comparative Industry Perspective," International Productivity Monitor, Centre for the Study of Living Standards, vol. 21, pages 3-23, Spring.
    16. Thomas von Brasch & Ådne Cappelen & Diana-Cristina Iancu, 2015. "Understanding the productivity slowdown. The importance of entry and exit of workers," Discussion Papers 818, Statistics Norway, Research Department.
    17. Ilya B. Voskoboynikov, 2021. "Accounting for growth in the USSR and Russia, 1950–2012," Journal of Economic Surveys, Wiley Blackwell, vol. 35(3), pages 870-894, July.
    18. Niebel, Thomas, 2018. "ICT and economic growth – Comparing developing, emerging and developed countries," World Development, Elsevier, vol. 104(C), pages 197-211.
    19. Matilde Mas, 2012. "Productivity in the Advanced Countries: From Expansion to Crisis," Chapters, in: Matilde Mas & Robert Stehrer (ed.), Industrial Productivity in Europe, chapter 1, Edward Elgar Publishing.
    20. De Santis, R. & Esposito, P. & Lasinio, C. Jona, 2021. "Environmental regulation and productivity growth: Main policy challenges," International Economics, Elsevier, vol. 165(C), pages 264-277.

    More about this item

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • F01 - International Economics - - General - - - Global Outlook

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jpolmo:v:43:y:2021:i:4:p:770-782. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505735 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.