New Prospects Of Economic Growth In Context Of Underdevelopment Whirlpools Phenomena

Elena Popkova

Applied Econometrics and International Development, 2014, vol. 14, issue 1, 5-20

Abstract: The author seeks to provide a new complex approach to the phenomena of economic growth. The article covers such issues as the nature and the structure of economic growth as well as the main forms of its manifestation. The author sees economic growth mostly as a social process, following basic humanistic principles. New features of contemporary economic growth are investigated in the paper via the system of economic science tasks and general economic development tendencies. The notion of “underdevelopment whirlpool” is introduced; the main features of the phenomena are exposed. On the basis of the given methodological toolset the temporal development asymmetry of certain economies is traced by comparing the levels of GDP per capita in developing and developed countries throughout different periods of time.

Keywords: economic growth; underdevelopment whirlpools; development asymmetry; developing and developed economies; GDP. (search for similar items in EconPapers)
Date: 2014
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