Authors:
Boris Lavrovskii
1
;
2
Affiliations:
1
Novosibirsk State Technical University, Novosibirsk, Russia, Russian Federation
;
2
The Institute of Economics and Industrial Engineering within the Siberian Branch of the Russian Academy of Sciences Novosibirsk, Russia, Russian Federation
Keyword(s):
Investment Policy, Macroeconomic Dynamics, Fixed Assets, Special Period, Labor Productivity, USA.
Abstract:
It is well known that the overwhelming number of countries with a developed market in the period from the
early to mid-1970s to the present is characterized by a tendency towards a reduction in the cumulative average
annual growth rate of per capita GDP. However, no earlier than the mid-1980s and no later than the mid2000s, a specific (special) period of time with a gentle line of cumulative dynamics emerged. As for the United
States and only for this period, the article also provides an illustration of the predominant growth of GDP in
relation to fixed capital. After the end of the special period, the dynamics everywhere again sharply weakens.
The article is devoted to the study of the phenomenon of a special period on the example of the United States.
It is shown that the stabilization of the growth rate of labor productivity in the considered period of time is
associated with the dynamics of specific capital requirements. In turn, it was revealed that the factor
influencin
g the amount of capital requirements, and, thereby, the dynamics of productivity is the intellectual
component of investment. Thus, the nature of the special period, the predominant growth of the product
relative to fixed capital in the United States during approximately 1980-1990s, is to a certain extent clarified.
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