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Secular stagnation in the modern world
https://doi.org/10.32609/0042-8736-2018-11-125-141
Abstract
The paper studies the factors of secular stagnation. Key factors of long-term slowdown in economic growth include the slowdown of technological development, aging population, human capital accumulation limits, high public debt, creative destruction process violation etc. The authors analyze key theoretical aspects of long-term stagnation and study the impact of these factors on Japanies economy. The authors conclude that most of the factors have significant influence on the Japanese economy for recent decades, but they cannot explain all dynamics. For Russia, on the contrary, we do not see any grounds for considering the decline in the economy since 2013 as an episode of secular stagnation.
About the Authors
S. M. Drobyshevsky
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
Sergey M. Drobyshevsky
Moscow
P. V. Trunin
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
Pavel V. Trunin
Moscow
A. V. Bozhechkova
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
Аlexandra V. Bozhechkova
Moscow
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For citations:
Drobyshevsky S.M., Trunin P.V., Bozhechkova A.V. Secular stagnation in the modern world. Voprosy Ekonomiki. 2018;(11):125-141. (In Russ.) https://doi.org/10.32609/0042-8736-2018-11-125-141
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