On the Relationship of Economic Dynamics and Accumulation Rate: International Experience

B. L. Lavrovskii () and A. V. Chuvaev
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B. L. Lavrovskii: Institute of Economics and Industrial Engineering, Siberian Branch, Russian Academy of Sciences
A. V. Chuvaev: Novosibirsk State Technical University

Studies on Russian Economic Development, 2022, vol. 33, issue 2, 127-134

Abstract: Abstract The article is devoted to the study of the issues of correlation between macroeconomic dynamics and the GDP accumulation rate. The statistical estimates using data for a large number of countries within the framework of a long retrospective indicate a certain presence of this connection. However, one cannot speak of a decisive influence of the accumulation rate on economic growth. The article specifically evaluates the influence of the factors of the accumulation rate and the incremental capital intensity on the GDP growth rate in the groups of developed and developing countries, in each of which the countries are in similar starting conditions. It has been shown that in the group of developing countries, characterized in the base year by approximately the same level of development, the influence of the accumulation rate and incremental capital intensity on macroeconomic dynamics is comparable and significant. In the group of developed countries (under the same conditions), the accumulation rate, if it has a positive impact, is extremely insignificant; the dominant factor here is the return on capital, not its (relative) volume.

Keywords: economic dynamics; GDP; accumulation rate; capital intensity; countries of the world; growth factors; correlation coefficient (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1134/S1075700722020071

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