TITLE:
Slowing Economic Growth around the World in the 21st Century
AUTHORS:
Yitian Lyu, Chenrui Zhang
KEYWORDS:
Capital Accumulation, Fertility Rate, Economic Instability, Solow Model, Globalization, Demographic Structure
JOURNAL NAME:
Open Journal of Business and Management,
Vol.7 No.4,
October
12,
2019
ABSTRACT: When the world goes into the 21st century, there is a general and apparent
trend of slowing-down for all economies around the world, especially for the
super economies. In this essay, in order to derive the possible factors that
lead to the slowdown, we are going to analyze the economic situation of the top
four economies (China, Japan, and EU, chiefly the US). The significant factors
that we find out include the less effect of capital accumulation; the decreasing
fertility rate from the 1960s; the slowdown productivity; and the economic
instability. Based on these factors that we have derived, we
predict that the economy will keep slowing down worldwide.