Economic growth and energy factor

Abstract

Economic growth classification could be based on different criteria. In the common sense of quantitative or qualitative factors contribution economic growth is divided into extensive and intensive. Economic growth linked to the socio-economic systems periodicities and leading sector development is named agrarian (traditional), industrial and post-industrial (informational). Usually the economic growth rate is connected with the power consumption rate. Long-term world economic dynamics showed that through the period of the ХIХ - XX c. a strict interconnection between economic growth and power industry development was established. In the middle of 70-th of XX c. when energy evolutionary crisis expanded through the world economy these indicators direction changed and illustrated non-traditional trend during the last 30 years. The developing and transitional economies proceed the similar direction, developed countries showed the counterdirection of the rates of growth and rated of power consumption. The article deals with modern economic growth indicators, connected to the energy factor introducing new types of economic growth: innovation-oriented and energy-oriented. The paper reveals three possible scenarios of the Russian development connected to its structure and argues the new quality of innovation-oriented economic growth could be achieved in the framework of energy-oriented economy.

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