Материал: Peculiarities of economic growth in developed countries at the end of XX-beginning of XXI century

.2.3 The organization for economic cooperation and developmentorganization for economic cooperation and development (or OECD) had many different names a few decades ago, such as a science center or a club of the richest countries, but none of the titles did not reflect the full essence of it.is the international economic association that unites 30 member developed countries, whose governments have the opportunity to discuss, develop and improve economic and social policies. At the forum, representatives of the countries share their experiences, seek different solutions to solve common problems and develop a coherent internal and external policy. The basic condition for membership in this club is the country's commitment to a market economy and a pluralistic democracy, which comes from the fact that not a person, not people, but the group is the main driving force of policy in a modern democratic society.organization for economic cooperation and development was established in 1947 as a part of the Marshall Plan to rebuild Europe after World War II. The original name of the organization is the Organization for European Economic Cooperation. However, in the 1960 the list of participants has expanded considerably. The new name the organization received in 1961, which reflects geography of the countries of the OECD better than the previous. Also, it is thought that the countries of the OECD produce about 60% of the world GDP., the OECD consists of 34 member countries, including the most industrialized ones such as U.S., Australia, Canada, almost all of Western Europe - the UK, France, Germany, and others, some of the ex-socialist countries, such as Poland, Hungary, Slovenia, and the country from the former Soviet Union - Estonia. The European Commission takes part in the OECD’s meetings on the rights of the individual participant as the highest body of executive power of the European Union.organization for economic cooperation and development mission is to promote policies that would increase the economic and social welfare of people around the world and hence take into account the health of population. It can be noticed in the Figure 4.

4. Health, public and private expenditure per capita in OECD countries. Source: Healthcare charts.

Through their activities, OECD collects information about the economic situation, not only in the participating countries, but also in the whole world, holds discussions, takes decisions and makes recommendations in economics and politics., it is necessary to note that all the work of this organization is carried out under the guidance of the OECD Council, which has the authority to make decisions and which consists of one representative from each country and one representative from the European Union. Also,OECD periodically publishes its forecasts for short-term and medium-term development. The OECD also analyzes the condition of the member countries’ economies and makes the forecast of their development for the next half year.addition, it is responsible for developing recommendations connected with regulation of the economy at the macro and the sectorial level, including international trade and policy coordination in financial assistance to developing countries., the OECD is actively involved in special questions directly related to globalization. For example, the organization aims to create optimal conditions for the free flow of capital and intangible products (services and intellectual property rights) in the world economy.

Chapter 3. Industrialized countries: distinctive features and ways of development

.1 The distinctive features of the developed countries

industrialized countries have a dominant position in all forms of international economic relations. They are distinguished by intensive type of economic development and a high level of development of productive forces from the other countries. Also, the developed countries are characterized by absolute domination of the industrial productive forces. Production with use of mechanisms provides the bulk of production. The mechanization of labor reaches a high level not only in proprietary material production but in services too. Furthermore, developed countries stand out among all the sub-systems of the world economy with a high level of economic development. In the production of GDP per capita, calculated on the basis of exchange rates, they are 5.4 times higher than the world average. Over the last decade, the gap in these rates did not decrease, but increased.

As it is accepted, profit is determined as main role of output, which induces increase in productivity, introduce new technology and new production management system. Also, creation of unique products and services, cheeping of production are leaded to the expansion of markets., agriculture loses its importance with the time. Now, the leading position is taken by services sector. The overflow of resources to services accelerates the development of education, health, social security and environmental protection. It also contributes to a rapid increase in the volume of work associated with the service of tourism, leisure, entertainment, as well as the development of the complex maintenance of computer equipment and information on the Internet. Changes in the sectoral structure of the economy under the impact of scientific and technological progress are significant feature of the modern developed countries.importance is participation in world trade which is one of the necessary conditions for obtaining financial and technological resources to achieve economic growth. Foreign trade in the developed countries is characterized by high growth rates and serious changes in the commodity structure, reflecting shifts in the economy., it is important to highlight that scientific knowledge and new personnel are becoming the basis of the international competitiveness of the country. Innovative development of industrialized countries is manifested in the production and commercialization of high quality new goods, the application of new methods of production (technology), development of new markets and new sources of raw materials., one of the main features of the developed countries is a relatively equal distribution of income, as well as relatively uniform economic development of the territory. These countries have a social orientation of the economy, including support for low-income segments of the population (pensioners, students, the disabled, etc.). Large investments in science (2-3% of GDP) and the introduction of its achievements in the production are determined the high intellectual level of labor. Humanization of the economies means a high percentage of spending on health care, education and culture. Significant costs are accounted for environmental protection (3.4% of GNP), which confirms the high level of greening the economy.

.2 Developed countries at the beginning of XXI century

start of the millennium is marked by the transformation of a group of developing countries from exporting to importing capital. Since the Asian economic crisis of 1997-1998 years, capital is increasingly moving "from bottom- to up" - from developing to developed countries. The significance of this phenomenon has led some observers to conclude that some developing countries have established a global "glut of savings." In the United States and the developed countries of the European Union by the end of 2007, the total capital inflows were exceeded outflows, while the Emerging Markets and developing countries were a net importer of capital., it is necessary to mention that after the end of the "Cold War" profound changes took place in the world politics and economy. Sometimes, the scientists explain these changes with the help of globalization. Talking about globalization, it should be distinguished that it is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. Also, this process has two types of influence on the economic sphere. On the one hand, it formed a single economic system in the center of which developed democratic countries of the West are located. On the other hand, it generated a transnational sector of the global economy, which really is not controlled by the governments of individual states. Moreover, globalization has the negative consequences, for example, the massive displacement of the population of developing to developed countries.the end of the twentieth century the demographic crisis is started, affecting developed countries. This crisis is noticed in the sharp decrease in population growth, the aging of population and the reduction of the workforce. However, developed countries have completed the demographic transition. The economy of these countries is acted as a limiter of population growth in the scientific and technological revolution. It means that there is no need to have a large amount of workforce because not the amount of the labor force, but its quality is evaluated.is worth to mention that there is a very high level of infrastructure in this group of countries. Moreover, they take almost monopolistic position in the field of computer science and high technology. The sphere of services and the development of financial capital are the leading activities in the industrialized countries. Also, medical advances, the increase in the standard of living and distribution of healthy lifestyle lead to enlarge in life expectancy in developed countries.main trend of the world economy, as well as the economies of developed countries at the turn of the XX-XXI centuries is the post-industrialization, the transition from industrial to post-industrial society. This society has such features as the predominance of services in production and consumption, high levels of education, greater attention to the environment and humane economy. Post-industrialization leads to profound changes in the world economy. The abundance and availability of economic information in combination with the reduction in the cost of communication and transportation has been a powerful incentive for the international movement of capital. Of course, post-industrialization is a positive trend inherent to the developed countries.

.3 Development prospects of the developed countries

are a lot of disputes between economists about development prospects of the industrialized countries. On the one hand, there is a thought that there will be no development in this group of countries and hence it will lead to a decline in the spheres of production, a decrease in the Total GDP and hence in the standard of living. Another part of the economists claim that there will be a positive change in the all of indicators of the industrialized countries.majority of economists believe that the acceleration of the growth of the world economy can be expected at the end of 2013.

1. Growth forecasts for the world economy and developed countries.

Sourсe: ЦМАКП. Итоги 2012 года и прогноз экономического развития на среднесрочную перспективу. Обзор макроэкономических тенденций № 73.

The first type of development is the implementation of the program of monetary stimulus from the Federal Reserve and the Bank of Japan will continue to significantly increase the amount of available funding in the global market, which, in turn, will help to prevent potential liquidity crises. The countries, where there are expectations of recovery (for example, in the U.S.), liquidity growth will soften the loan terms, which so far remain extremely high., expectations of maintaining a balanced growth path of the U.S. economy are remained, accompanied by a decrease in unemployment. Reducing unemployment at the end of 2013 will be lower than in 2012. Managing expectations of sustained growth of the world's largest economy will have a positive impact on the world economy and hence to the developed countries., acceleration of the growth of world trade is expected at the end of 2013. At the same time, lack of demand for imports in the European countries will slow world trade and have a negative impact on growth in countries which have close foreign trade ties with Europe.dynamics of the main macroeconomic indicators at the end of 2012 can expect a stable (in the range 2-2.5%) growth. During 2012, unemployment fell from 8.5% to 7.8%, which enabled it to support household consumption.important factor of development of industrialized countries is the steady growth in exports, accompanied by slower growth of imports. This trend may continue in the future to the extent of implementation cumulative competitive advantage of U.S. in the crisis.addition, the revival of production, post-crisis recovery in consumption and investment will boost the economies of developed countries. Industrial production growth will be supported by the expanding demand for technology imports from the rapidly developing countries of the Asia-Pacific region, the steady increase in the volume of world trade. With low interest rates and loose monetary policy the growth of investment will store in high-tech sector and improvements of the competitiveness of products., it is important to mention that, a moderate increase in the wage fund is expected during the 2013-2014 year. The percentage to 2011, the growth in nominal wages fund will be 124.8%

industrialised economy quality

Conclution

development of industrialized countries has a fundamental impact on structural, scientific and technical restructuring of the world economy, on the situation on the world market. Also, there are some important indicators of industrialized countries such as Total Real GDP, GDP/GNP per capita, sectoral structure of the economy, the level and quantity of life and measures of economic performance which allow to evaluate the development of this group of countries.

Furthermore, it must be mentioned that economic growth in developed countries can be both positive (increase in standard of living) and negative (environmental pollution) measurement of development.addition, there are several groups of developed countries such as G7, the European Union and the Organization of Economic Cooperation and Development which have common features and special goals of improving the world.developed countries dominate the world economy. They are distinguished by a single sociologic and economic plan of the reproductive process in the national economy, intensive type of economic development, a high level of development of productive forces. About 15% of the world population is lived in the economically developed countries, but it concentrates the bulk of economic, scientific and technical potential of the world. The service sector (60%) takes the first place in the total GDP of industrialized countries, industry is accounted for an average of about 25%, and agriculture - just over 3%. In general, the industrialized countries are the leaders in the electrical, electronics, aerospace, automotive and chemical industries.the beginning of the nineteenth century, the development of industrialized countries has become a recurring character associated with periodic crises of overproduction. Since 2008, the rate of production again began to fall. The reason for this was the financial crisis, which had affected almost all countries of the world. Analysts estimate the rate of decline in production in early 2008 which was approximately 50%., the cyclical development is associated with an excessive expansion of production arising from the desire to earn extra income. At the same time, the reduction of production during the crisis leads to a massive renewal of fixed capital, improve the level of development of productive forces and, as a consequence, the adaptation to the new conditions of capital reproduction. This is the very foundation of economic cycle and frequency fluctuations of national economic development., it must be noted that the industrialized countries play a leading role in international trade and international capital movements. They determine the ways of development in different spheres of human life., the overflow of resources to services accelerates the development of education, health, social security and environmental protection. It also contributes to a rapid increase in the volume of work associated with the service of tourism, recreation and entertainment. But it contributes to the development of the complex maintenance of computer equipment and information on the Internet in the greatest extent. Also, the bulk of investments is directed to expand the scope of services. Foreign investments are increasing rapidly in the telecommunications and software.general, developed countries are still leading in the world economy. Only few developing countries have been able to catch up with them, which suggest that industrialized countries are quite resilient to economic hardship and can, though not without loss, to overcome them.

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