The world economy : growth or stagnation? / edited by Dale W. Jorgenson, Kyoji Fukao, Marcel P. Timmer.

List of figures, Page vii -- List of tables, XII -- List of contributors, xvi -- 1. The new world order / Dale W. Jorgenson, 1 -- 2. US economic growth - retrospect and prospect: lessons from a prototype industry-level production account for the US, 1947-2012 / Dale W. Jorgenson, Mun S. Ho, and Jon D. Samuels, 34 -- 3. The structural causes of Japan's Lost Decades / Kyoji Fukao, Kenta Ikeuchi, Hyeogug Kwon, Younggak Kim, Tatsuji Makino, and Miho Takizawa, 70 -- 4. Productivity growth in Europe before and since the 2008/2009 economic and financial crisis / Bart Van Ark and Mary O'Mahony, 111 -- 5. LA-KLEMS: economic growth and productivity in Latin America / André Hofman, Matilde Mas, Claudio Aravena, and Juan Fernández de Guevara, 153 -- 6. On China's strategic move for a new stage of development - a productivity perspective / Harry X. Wu, 199 -- 7. Productivity growth in India under different policy regimes / Deb Kusum Das, Abdul A. Erumban, Suresh Aggarwal, and Sreerupa Sengupta, 234 -- 8. Is mining fuelling long-run growth in Russia? Industry productivity growth trends in 1995-2012 / Marcel P. Timmer and Ilya B. Voskoboynikov, 281 -- 9. Intangibles, ICT and industry productivity growth: evidence from the EU / Carol Corrado, Jonathan Haskel, and Cecilia Jona-Lasinio, 319 -- 10. Do intangibles contribute to productivity growth in East Asian countries? Evidence from Japan and Korea / Hyunbae Chun, Tsutomu Miyagawa, Hak Kil Pyo, and Konomi Tonogi, 347 -- 11. BEA/BLS industry-level production account for the US: integrated sources of growth, intangible capital, and the US recovery / Steven Rosenthal, Matthew Russell, Jon D. Samuels, Erich H. Strassner, and Lisa Usher, 377 -- 12. Measuring human capital: country experiences and international initiatives / Gang Liu and Barbara M. Fraumeni, 429 -- 13. A half century of trans-pacific competition: price level indices and productivity gaps for Japanese and US industries, 1955-2012 / Dale W. Jorgenson, Koji Nomura, and Jon D. Samuels, 469 -- 14. Searching for convergence and its causes - an industry perspective / Robert Inklaar, 508 -- 15. The rise of global manufacturing value chains: a new perspective based on the world input-output database / Marcel P. Timmer, Bart Los, and Gaaitzen J. De Vries, 535 -- Index, 564 -- 15. The rise of global manufacturing value chains: a new perspective based on the world input-output database / Marcel P. Timmer, Bart Los, and Gaaitzen J. de Vries, 535 -- Index, 564.

The 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 analyzing 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 maximize 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.