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Capital accumulation and economic growth after the Great Recession
https://doi.org/10.32609/0042-8736-2019-12-24-46
Abstract
The Great Recession in 2008—2009 and slow recovery after it became a significant challenge both for economic policy and theory, especially for economic growth studies. New circumstances have revealed new stylized facts, for instance, the decrease in growth rates and capital accumulation in advanced economies. The paper analyzes responses to and outcomes of the Great Recession for countries at different stages of development. The authors consider the investment impact on economic growth varying through seven clusters of countries, determined according to GDP (PPP) level per capita. An attempt has been made to reveal new stylized facts based on current trends and to revise some theoretical approaches to the analysis of economic growth.
About the Authors
Leonid M. Grigoryev
National Research University Higher School of Economics; Analytical Center for the Government of RF
Russian Federation
Moscow
Russian Federation
Moscow
Ekaterina A. Makarova
National Research University Higher School of Economics
Russian Federation
Moscow
Russian Federation
Moscow
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For citations:
Grigoryev L.M., Makarova E.A. Capital accumulation and economic growth after the Great Recession. Voprosy Ekonomiki. 2019;(12):24-46. (In Russ.) https://doi.org/10.32609/0042-8736-2019-12-24-46
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