Economic growth
The State Council of the People's Republic of China announced that since the deployment of a package of incremental policies last year, the growth rates of invoice sales and tax revenue have steadily rebounded. Major industries and tax types have achieved steady growth, capital market-related taxes have maintained
Economic growth
Peter Howitt, a Western University graduate and honorary professor, has been awarded the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, often known as the Nobel Prize in Economics, for his groundbreaking work on creative destruction theory. This theory explains how innovation drives economic growth by
Economic growth
Persistent uncertainty over trade policy and supply chain disruptions has weighed heavily on the world's economic output, according to the International Monetary Fund's latest World Economic Outlook report. While the global economy has shown resilience, with growth stronger than expected in 2025, the impact of trade
Economic growth
The Central Bank of Azerbaijan is set to continue its data-driven monetary policy in the face of rising inflation, according to a forecast by Fitch Solutions. The bank will not rush to reduce interest rates, as economic growth weakens and price increases stabilize. Instead, it may gradually ease its policy
Economic growth
Economic growth has lifted billions of people out of poverty over the past two centuries, but the trio of economists Joel Mokyr, Philippe Aghion, and Peter Howitt warn that poor policy could see economies stagnate again. Innovation is key to driving sustainable growth, and the three economists have extensively researched
Economic growth
Renewed optimism has surrounded Nigeria's macroeconomic trajectory, as the International Monetary Fund (IMF) has raised its forecast for the country's economic growth in 2025 to 3.9 percent. This latest revision is significant, increasing from the previous projection of 3 percent issued earlier this year. The
Economic growth
The three economists, Joel Mokyr, Philippe Aghion, and Peter Howitt, have been awarded the 2025 Nobel economics prize in economic sciences for their work on understanding innovation-driven economic growth. According to the Royal Swedish Academy of Sciences, their research has explained how innovation provides the impetus for further progress. Mokyr&
Economic growth
Brown Professor Emeritus of Economics Peter Howitt was awarded the Nobel Memorial Prize in Economic Sciences, along with co-laureates Philippe Aghion and Joel Mokyr, for their groundbreaking work on the theory of sustained growth through creative destruction. This concept, which describes how new technologies replace old ones, has been a
Economic growth
The Royal Swedish Academy of Sciences has announced that Joel Mokyr, Philippe Aghion, and Peter Howitt will receive the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2025 for their groundbreaking work on explaining innovation-driven economic growth. Mokyr's research identified the prerequisites for sustained
Economic growth
Three experts in the power of technology to drive economic growth have been awarded the Nobel Prize in Economics for their pioneering work in explaining "innovation-driven economic growth." Joel Mokyr of Northwestern University, Philippe Aghion of the Collège de France, Insead business school, and the London School of
Economic growth
Despite most of human history being characterized by little economic growth, sustained economic growth driven by technological innovations has become the norm over the past two centuries. The Nobel Memorial Prize in Economic Sciences was awarded to Joel Mokyr of Northwestern University, Philippe Aghion of INSEAD and the London School
Economic growth
Joel Mokyr, the Robert H. Strotz Professor of Arts and Sciences and professor of economics and history at Northwestern University, was awarded the Nobel Prize in Economic Sciences for his theory on sustained economic growth. Mokyr identified three crucial requisites for growth: useful knowledge, mechanical competence, and institutions conducive to
