Recent developments in the growth regime in France and the United States
Through the book 'Efficient and capital accumulation factors' of D. Plihon, we can see new growth patterns of economic performance in France and the United States. The analysis of the new growth regime, which oscillates between the risk of over or under-accumulation, will see the emergence of two types of approaches.
A technological approach that delivers the shock of technical progress, and the higher yields that result, leading to the emergence of a new economy. A financial approach is one for which financial innovation can lower transaction costs and increases the risk in a situation of financial market liberalization. To analyze the new growth regime, we must combine these two types of analysis.
Therefore, after studying the excerpt from this book, we can ask what changes in productivity and capital accumulation have taken place in France and the United States. What impact will these developments have in both countries? In the first part, we see the situation of the United States, and then we will address the case of France.
The economic viability of the United States appears to be linear between the 80s and 90s. However, breaking down the economic return from the profit ratio and capital productivity,there were two contrasting trends. First, over the long term, there is an erosion of margin due primarily to a growing weight of depreciation in the value added.
Tags : 'Efficient and capital accumulation factors', Financial market liberalization, Economic viability of the United States
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