Economic growth: theory and practice

Abstract

The paper is devoted to the growth trends in several countries. The authors analyze economic trends over the previous century, theoretical factors and platforms of economic policy-making in certain countries. The analysis of the prospects for the economy over the next 15 years in the major countries is based on the analysis of the several consulting companies’ assessments. Thereafter, within the selected theme the authors examine the short-term outlook for the global economy. They argue that the state policy is essential for the economic growth and determine its main directions that could contribute to sustained economic development.