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World economic outlook for 2019

Author

Listed:
  • Pedro del Río
  • Esther Gordo

Abstract

Recent weaknesses in the world economy have prompted a downward revision of forecasts for 2019. The baseline projection scenario points to a widespread easing of growth, albeit more so in some areas than in others, against a backdrop of high uncertainty and significant downside risks. These include, most notably, the possible proliferation of protectionist measures, a disorderly no-deal Brexit, a sharper than expected slowdown in China or in the euro area, or a severe financial market adjustment. Any – or a combination – of these events could have a significant impact on the world economy, in a setting in which there is little room for manoeuvre in macroeconomic stabilisation policies.

Suggested Citation

  • Pedro del Río & Esther Gordo, 2019. "World economic outlook for 2019," Economic Bulletin, Banco de España, issue JUN.
    • Handle: RePEc:bde:journl:y:2019:i:6:d:aa:n:10
    Note: Analytical Articles
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    File URL: https://www.bde.es/f/webbde/SES/Secciones/Publicaciones/InformesBoletinesRevistas/ArticulosAnaliticos/19/T2/descargar/Files/be1902-art10e.pdf
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    Citations

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    Cited by:

    1. Guan, Jialin & Kirikkaleli, Dervis & Bibi, Ayesha & Zhang, Weike, 2020. "Natural resources rents nexus with financial development in the presence of globalization: Is the “resource curse” exist or myth?," Resources Policy, Elsevier, vol. 66(C).
    2. Khan, Zeeshan & Hussain, Muzzammil & Shahbaz, Muhammad & Yang, Siqun & Jiao, Zhilun, 2020. "Natural resource abundance, technological innovation, and human capital nexus with financial development: A case study of China," Resources Policy, Elsevier, vol. 65(C).
    3. Jiang, Chun & Zhang, Yadi & Kamran, Hafiz Waqas & Afshan, Sahar, 2021. "Understanding the dynamics of the resource curse and financial development in China? A novel evidence based on QARDL model," Resources Policy, Elsevier, vol. 72(C).
    4. Bienvenido-Huertas, David, 2021. "Do unemployment benefits and economic aids to pay electricity bills remove the energy poverty risk of Spanish family units during lockdown? A study of COVID-19-induced lockdown," Energy Policy, Elsevier, vol. 150(C).
    5. Irena Jindřichovská & Erginbay Uğurlu, 2021. "E.U. and China Trends in Trade in Challenging Times," JRFM, MDPI, vol. 14(2), pages 1-19, February.

    More about this item

    Keywords

    global economic outlook; protectionism; Brexit; financial stress; economic policy;
    All these keywords.

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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