Abstract
According to the synergy theory, this chapter establishes the economic growth model, and analyzes the economic growth factors of the United States, Japan, Germany, and Singapore, and further discusses the experiences and lessons of the economic growth of these countries.
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Notes
- 1.
With regard to the research and development input of the United States since 1900, according to the collection of Machlup in the book The Production and Distribution of Knowledge in the United States, the ratio of American R&D input to gross domestic product (GDP) was 0. 09% in 1920, 0.147% in 1930, 1.37% in 1940 and 1.47% in 1950. The estimated value of American R&D input during 1900–1930 in this book is slightly higher than Machlup’s, but the gap is not significant.
- 2.
Table 5.3 shows that science and technological progress plays an increasingly important role in the development of America’s economy in the 20th century. Especially in recent decades, innovation has become the primary driving force for America’s economic growth. The contribution of technological innovation, human capital promotion, and institutional innovation exceeds the contribution of material capital (stock and increment) growth.
- 3.
Compared with other developed countries, manufacturing and related services remained at the center in the Germany’s economy, and German manufacturing mainly included industrial machinery, automotive and chemical industries. In 1992–2002, although the share of total industrial output (excluding construction) in GDP fell from 26.9 to 22.3%, it rose to 23% in 2004.
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Liu, J., Jiang, Z. (2018). The Analysis on the Factors of Economic Growth in the United States and Other Developed Countries. In: The Synergy Theory on Economic Growth: Comparative Study Between China and Developed Countries. Springer, Singapore. https://doi.org/10.1007/978-981-13-1885-6_5
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