DETERMINANTS OF U.S. ECONOMIC RESILIENCE AS A COMPONENT OF SOCIO-ECONOMIC SECURITY
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DETERMINANTS OF U.S. ECONOMIC RESILIENCE AS A COMPONENT OF SOCIO-ECONOMIC SECURITY
Annotation
PII
S268667300000616-7-1
Publication type
Article
Status
Published
Edition
Pages
88-100
Abstract
The paper deals with the notion of resilience of a country's economy. Taking U.S. economy as an example, we point out three factors that contribute to the reduction in its resilience: lower political adaptability, lack of progress in vertical mobility of the population, and narrowing of the economic middle class. We find that innovative activity in the U.S. is increasing which contradicts pessimistic conclusions made in earlier papers by several American researchers. However, this trend is concentrated in a few industries which are currently booming and is not supported by long-term public R&D investment.
Keywords
economic security, resilience, innovation, technical progress
Date of publication
09.02.2016
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739
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1. Gordon Robert. Is U.S. Economic Growth Over? Faltering Innovation Confronts the Six Headwinds // NBER Working Paper No. 18315, August 2012 ( ). DOI: 10.3386/w18315 
2. Hilger Nathaniel. The Great Escape: Intergenerational Mobility Since 1940. Cambridge, Mass., NBER, May 2015. 69 p. ( ). DOI: 10.3386/w21217
3. Huebner Jonathan. A possible declining trend for worldwide innovation // Technological Forecasting and Social Change, Vol. 72, No. 8, 2005. P. 980-986 ( ). DOI: 10.1016/j.techfore.2005.01.003
4. Modis Theodore. Long-term GDP Forecasts and the Prospects for Growth // Technological Forecasting and Social Change, Vol. 80, No. 8, 2013. P. 1557-1562. ( ). DOI: 10.1016/j.techfore.2013.02.010
5. Chetty R., Hendren N., Kline P., Saez E.Where is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States // The Quarterly Journal of Economics, Vol. 129, No. 4, 2014. P. 1553-1623. ( span>). DOI: 10.1093/qje/qju022

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