REASONS FOR THE DECLINE IN GLOBAL ECONOMIC GROWTH AND NEWGROWTH MODELS

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Abstract

This article provides an in-depth and systematic analysis of the main factors leading to the decline in global economic growth rates and the new economic growth models emerging in modern conditions. The study substantiates the negative impact of macroeconomic instability, increased geopolitical conflicts, rising global inflation, financial market volatility, uneven post-pandemic recovery processes, and disruptions in international trade and logistics systems on economic growth in recent еars. At the same time, structural factors such as demographic changes, slow growth in labor productivity, and resource constraints are also separately considered. The article scientifically substantiates the declining effectiveness of the traditional extensive growth model, and its replacement is analyzed by new growth models based on innovation, knowledge economy, digital transformation, green economy, and inclusive development concepts. The results of the study show that developing human capital, deepening institutional reforms, accelerating technological innovation, and ensuring environmental sustainability are priority areas for achieving sustainable economic growth.

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