上财宏观经济学Macroeconomic-23EconmicGrowth

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1、CHAPTER1RealGDPperpersonintheUnitedStatestripledinthe50yearsbetween1958and2008.Whathasbroughtaboutthisgrowthinproduction,incomes,andlivingstandards?WeseeevengreatereconomicgrowthinmodernAsia.Incomeshavetripledinthe13yearsbetween1995and2008.WhyareincomesinChinagrowingsorapid

2、ly?TheBasicsofEconomicGrowthEconomicgrowthisthesustainedexpansionofproductionpossibilitiesmeasuredastheincreaseinrealGDPoveragivenperiod.CalculatingGrowthRatesTheeconomicgrowthrateistheannualpercentagechangeofrealGDP.Theeconomicgrowthratetellsushowrapidlythetotaleconomyisex

3、panding.ThestandardoflivingdependsonrealGDPperperson.RealGDPperpersonisrealGDPdividedbythepopulation.RealGDPperpersongrowsonlyifrealGDPgrowsfasterthanthepopulationgrows.TheBasicsofEconomicGrowthTheMagicofSustainedGrowthTheRuleof70statesthatthenumberofyearsittakesforthelevel

4、ofavariabletodoubleisapproximately70dividedbytheannualpercentagegrowthrateofthevariable.TheBasicsofEconomicGrowthApplyingtheRuleof70Figure23.1showthedoublingtimeforgrowthrates.Avariablethatgrowsat7percentayeardoublesin10years.Avariablethatgrowsat2percentayeardoublesin35year

5、s.Avariablethatgrowsat1percentayeardoublesin70years.TheBasicsofEconomicGrowthEconomicGrowthTrendsGrowthintheU.S.EconomyFrom1908to2008,growthinrealGDPperpersonintheUnitedStatesaveraged2percentayear.RealGDPperpersonfellprecipitouslyduringtheGreatDepressionandroserapidlyduring

6、WorldWarII.Growthwasmostrapidduringthe1960s.Growthslowedduringthe1970sandspedupagaininthe1980sand1990s.Figure23.2onthenextslideillustrates.EconomicGrowthTrendsRealGDPGrowthintheWorldEconomyFigure23.3(a)showsthegrowthintherichcountries.GrowthintheUnitedStates,Canada,andEurop

7、eBig4hasbeensimilar.Japangrewrapidlyinthe1960s,slowerinthe1980s,andevenslowerinthe1990s.EconomicGrowthTrendsFigure23.3(b)showsthegrowthofrealGDPperpersoningroupofpoorcountries.ThegapsbetweenrealGDPperpersonintheUnitedStatesandinthesecountrieshavewidened.EconomicGrowthTrends

8、HowPotentialGDPGrowsEconomicgrowthoccurswhenrealGDPincreases.Butaone-shotincreasei