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The G20 and the world economy: Performance and prospects

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  • 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
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    References listed on IDEAS

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    1. Dale W. Jorgenson & Khuong Vu, 2005. "Information Technology and the World Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 107(4), pages 631-650, December.
    2. World Bank, 2000. "Global Economic Prospects and the Developing Countries 2000," World Bank Publications - Books, The World Bank Group, number 14776.
    3. Timmer,Marcel P. & Inklaar,Robert & O'Mahony,Mary & Ark,Bart van, 2013. "Economic Growth in Europe," Cambridge Books, Cambridge University Press, number 9781107412446, January.
    4. 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.
    5. Dale W. Jorgenson & Khuong Vu, 2005. "Information technology and the world economy," Proceedings, Federal Reserve Bank of San Francisco.
    6. 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.
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    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

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