The New Economy

Atanas Leonidov

Economic Studies journal, 2003, issue 2, 3-33

Abstract: Discussed are key aspects of the new economy of USA. Cleared out is the content of the term. Analyzed are the dynamics and factors of the economic growth and the labor productivity, the contribution of the information technologies to its fastening from the beginning of the 90s until now. Reviewed are the views for the potential of the new economy (D. Jorgenson and K. Stiroh, R. Gorden, M. Baily and R. Lawrence). The new economic phenomenon is estimated as a result mostly of the activity of the long-term structural changes. The most important characteristics of the new economy is the tendency towards comparatively sustainable fastening of the labor productivity, which maintained also in 2001 – 2002, i.e. in the conditions of recession. The article presents results from the individual research project “Policy of Economic Growth in the Developed Countries: Theoretical Bases and Practice” – Institute of Economics at BAS.

JEL-codes: O38 O40 O47 (search for similar items in EconPapers)
Date: 2003
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