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Chapter II. The World Economy
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Abstract
GNP growth in the major seven economies continues to decline from the cyclical peak reached in 1988. The latest national accounts statistics show that all major seven economies are now growing more slowly than they did last year, with the United States, United Kingdom and Canada in recession. This slowdown in activity appears to have been caused primarily by the tightening of monetary policy that occurred between 1988 and 1990. Short-term interest rates rose by 4.4 percentage points in Germany between 1987 and 1990, by 3 percentage points in Japan between 1987 and 1990, and by 2.2 per cent in the United States between 1987 and 1989.
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Other versions of this item:
- Barrell, R.J. & Gurney, Andrew, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 128, pages 20-39, May.
- Gurney, Andrew & Barrell, Ray, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 137, pages 24-44, August.
- R.J. Barrell & Andrew Gurney & Stephen Dulake, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 131(1), pages 24-46, February.
- Barrell, Ray & Gurney, Andrew & In't Veld, Jan Willem, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 135, pages 27-49, February.
- Barrell, R.J. & Gurney, Andrew, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 130, pages 23-42, November.
- Barrell, R.J. & Gurney, Andrew & Dulake, Stephen, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 133, pages 24-49, August.
- Barrell, R.J. & Eastwood, Fiona, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 124, pages 21-35, May.
- Barrell, R.J. & Eastwood, Fiona, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 125, pages 23-39, August.
- R.J. Barrell & Andrew Gurney, 1989. "Chapter II. the World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 127(1), pages 26-45, February.
- R.J. Barrell & Fiona Eastwood, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 125(1), pages 23-39, August.
- Barrell, Ray & Anderton, Bob & In't Veld, Jan Willem, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 138, pages 23-44, November.
- Barrell, R.J. & Gurney, Andrew, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 129, pages 22-37, August.
- Ray Barrell & Andrew Gurney & Jan Willem In't Veld, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 135(1), pages 27-49, February.
- R.J. Barrell & Andrew Gurney, 1989. "Chapter II. the World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 128(1), pages 20-39, May.
- R.J. Barrell & Andrew Gurney, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 129(1), pages 22-37, August.
- Barrell, R.J. & Gurney, Andrew & Dulake, Stephen, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 132, pages 25-47, May.
- R.J. Barrell & Andrew Gurney & Stephen Dulake, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 132(1), pages 25-47, May.
- Gurney, Andrew & In't Veld, Jan Willem & Barrell, Ray, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 136, pages 34-59, May.
- Barrell, R.J. & Gurney, Andrew & Dulake, Stephen, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 131, pages 24-46, February.
- R.J. Barrell & Andrew Gurney, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 130(1), pages 23-42, November.
- Andrew Gurney & Ray Barrell, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 137(1), pages 24-44, August.
- Barrell, R.J. & Gurney, Andrew, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 126, pages 18-31, November.
- R.J. Barrell & Andrew Gurney & Stephen Dulake, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 133(1), pages 24-49, August.
- Ray Barrell & Bob Anderton & Jan Willem In't Veld, 1991. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 138(1), pages 23-44, November.
- Barrell, R.J. & Gurney, Andrew & Dulake, Stephen, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 134, pages 22-43, November.
- Barrell, R.J. & Eastwood, Fiona, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 123, pages 20-33, February.
- R.J. Barrell & Fiona Eastwood, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 124(1), pages 21-35, May.
- R.J. Barrell & Fiona Eastwood, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 123(1), pages 20-33, February.
- Barrell, R.J. & Gurney, Andrew, 1989. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 127, pages 26-45, February.
- R.J. Barrell & Andrew Gurney, 1988. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 126(1), pages 18-31, November.
- R.J. Barrell & Andrew Gurney & Stephen Dulake, 1990. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 134(1), pages 22-43, November.
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