The Impact of U.S. Economic Growth on the Rest of the World: How Much Does It Matter?
AbstractThis paper attempts to quantify the extent to which U.S. growth is an “engine” of the world economy. Results based on fixed-effects estimation using panel data suggest a significant positive impact of U.S. growth on growth in the rest of the world, especially developing countries, in recent decades. The impact is as large as one-for-one in some specifications. The results are robust to alternative specifications and to the alternative claim that world growth in recent decades has been driven predominantly by common global shocks.
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Bibliographic InfoArticle provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.
Volume (Year): 21 (2006)
Issue (Month): ()
Economic growth; Economic integration;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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