Abstract
The aim of this article is to empirically analyze and to reveal how the dynamics of world production in the early 21st century corresponds to slow growth regime (both in its demographic and economic components) as well as toassess differencies in production growth between regions of the world. The authors idea to make an exhaustive study of this issue was based on Th. Pikettyís
96 Sociālo Zinātņu Vēstnesis 2021 2 assertion that the growth of world production has always been relatively slow in the long term, and in the future it will slow down even more, at least in its demographic component. In its
theoretical part, the methodology of this study is based on the unified theory of growth. In its turn, the empirical part consists of the analysis of panel data from the World Inequality Database.
Results of this study show that between 1992 and 2019 world production growth slowed down only in its demographic component whereas the average economic component of the world production growth (and the production growth in the whole) is constantly accelerating, while its structure and pace are unequal in different regions of the world. The modern world can be figuratively divided into ìworlds-economiesî that have different (sometimes diametrally opposite)production growth path. Over last 70 years, the world population grew over independently of economic growth. Still, a direct correlation between demograpic and economic growth can be traced in some regions of the world. In the early 21st century, most regions of the modern world are still far from the regime of slow production growth ñ especially in its economic component ñ
which cannot last long without a radical dematerialization of the produced GDP. The novelty of this study is a comprehensive (both economic and demographic) empirical analysis of production growth trends in the regions of the world in the early 21st century. This analysis is based on the previously used by the authors F. Braudelís and I. Wallesrtainís paradigm of existence of relatively autonomous ìworlds-economiesî in the global economic space. The authors suggest to improve the methodology of further research on world production growth and spatial inequality by introducing in the empirical analysis the third component of the production growth, so called ìecological footprintî.
Key words: production growth, demographic component of production growth, economic component of production growth, spatial inequality, slow growth regime, regions of the world.
96 Sociālo Zinātņu Vēstnesis 2021 2 assertion that the growth of world production has always been relatively slow in the long term, and in the future it will slow down even more, at least in its demographic component. In its
theoretical part, the methodology of this study is based on the unified theory of growth. In its turn, the empirical part consists of the analysis of panel data from the World Inequality Database.
Results of this study show that between 1992 and 2019 world production growth slowed down only in its demographic component whereas the average economic component of the world production growth (and the production growth in the whole) is constantly accelerating, while its structure and pace are unequal in different regions of the world. The modern world can be figuratively divided into ìworlds-economiesî that have different (sometimes diametrally opposite)production growth path. Over last 70 years, the world population grew over independently of economic growth. Still, a direct correlation between demograpic and economic growth can be traced in some regions of the world. In the early 21st century, most regions of the modern world are still far from the regime of slow production growth ñ especially in its economic component ñ
which cannot last long without a radical dematerialization of the produced GDP. The novelty of this study is a comprehensive (both economic and demographic) empirical analysis of production growth trends in the regions of the world in the early 21st century. This analysis is based on the previously used by the authors F. Braudelís and I. Wallesrtainís paradigm of existence of relatively autonomous ìworlds-economiesî in the global economic space. The authors suggest to improve the methodology of further research on world production growth and spatial inequality by introducing in the empirical analysis the third component of the production growth, so called ìecological footprintî.
Key words: production growth, demographic component of production growth, economic component of production growth, spatial inequality, slow growth regime, regions of the world.
Translated title of the contribution | Production growth and spatial inequality in the modern world |
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Original language | Latvian |
Pages (from-to) | 95-115 |
Number of pages | 21 |
Journal | Sociālo Zinātņu Vēstnesis=Social Sciences Bulletin |
Volume | 33 |
Issue number | 2 |
Publication status | Published - 2021 |
Keywords*
- Production growth
- Demographic component of production growth
- Spatial inequality
- Slow growth regime
Field of Science*
- 5.2 Economy and Business
- 5.4 Sociology
Publication Type*
- 1.2. Scientific article included in INT1 or INT2 category journal of ERIH database