The point of departure for the study of the impact of energy and environmental policies is the neo-classicaltheory of economic growth formulated by Cass (1965) and Koopmans (1967). The long-run properties ofeconomic growth models are independent of energy and environmental policies. However, these policiesaffect capital accumulation and rates of productivity growth that determine the intermediate-run trends thatare important for policy evaluation.
Heterogeneity of different energy producers and consumers is critical for the implementation of energyand environmental policies. To capture this heterogeneity it is necessary to distinguish among commodities,industries, and households. Econometric methods are essential for summarizing information on differentindustries and consumer groups in a form suitable for general equilibrium modeling.
The balance of the world economy is shifting away from the established economies of Europe, Japan, and the USA, towards the emerging economies of Asia, especially India and China. With contributions from some of the world's leading growth theorists, this book analyses the long-term process of structural change and productivity growth across the world from a unique comparative perspective. Ongoing research from the World KLEMS Initiative is used to comparatively study new sources of growth - including the role of investment in intangible assets, human capital, technology catch-up, and trade in global value chains. This book provides comparisons of industries and economies that are key to analysing the impacts of international trade and investment. This makes it an ideal read for academics and students interested in understanding current patterns of economic growth. It will also be of value to professionals with an interest in the drivers of economic growth and crisis.
This is the first book that analyses the process of structural change and productivity growth in Asia, Europe, Latin America and the USA from a long-term comparative perspective
Relies on industry-level data for individual economies, rather than abstract conceptual models, and uses a common methodology throughout, to maximise accessibility
Provides state-of-the-art techniques, whilst remaining accessible for non-specialists
The information in the book is backed up by ongoing active research efforts
Jorgenson, Dale W., Mun S. Ho, and Jon D. Samuels. “The Outlook for U.S. Economic Growth.” In Understanding the Growth Slowdown, edited by Brink Lindsey, 11-30. Washington, DC: The Cato Institute Press, 2015.