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Monetary Union Promotes Growth in the EU. Medium-term Forecast for the World Economy until 2001

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  • Stephan Schulmeister

    (WIFO)

Abstract

Since the beginning of the 1990s, the USA has – for the first time since the end of World War II – held the "leadership" in the growth dynamic of the "Triad": between 1991 and 1996, the USA's GDP grew at a yearly rate of 2.9 percent – almost twice as quickly as Europe's (+1.6 percent). Economic growth over this period was weakest in the country which had shown the greatest economic vitality over the long-term: total output in Japan grew at a rate of only 1.2 percent p.a. between 1991 and 1996.

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Bibliographic Info

Article provided by WIFO in its journal WIFO-Monatsberichte.

Volume (Year): 70 (1997)
Issue (Month): 10 (October)
Pages: 593-604

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Handle: RePEc:wfo:monber:y:1997:i:10:p:593-604

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Keywords: Währungsunion fördert Wachstum in der EU. Mittelfristprognose der Weltwirtschaft bis 2001; Monetary Union Promotes Growth in the EU. Medium-term Forecast for the World Economy until 2001;

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