Economic Growth in Denmark, Sweden and the United Kingdom since the Start of Monetary Union
This study analyzes GDP growth in Denmark, Sweden and the United Kingdom, examining the determinants of potential growth, cyclical fluctuations in GDP and the contribution of the national economic policy of each of the three countries. High spending on research and development, particularly in information and communications technology, is identified as the main force driving growth in Sweden while a robust increase in private consumption resulting from rising asset prices is found to have been the key growth driver in the United Kingdom. In Denmark and Sweden, swings in the business cycle are being successfully offset through fiscal policy and other measures. The United Kingdom has made considerable progress with respect to business cycle convergence with the euro area, a significant factor for joining Economic and Monetary Union.
Volume (Year): (2004)
Issue (Month): 4 ()
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- Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
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556, Stockholm School of Economics, revised 29 Mar 2004.
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Money Macro and Finance (MMF) Research Group Conference 2003
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- Michael D. Bordo & Thomas Helbling, 2003. "Have National Business Cycles Become More Synchronized?," NBER Working Papers 10130, National Bureau of Economic Research, Inc.
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"On Export Composition and Growth,"
Review of World Economics (Weltwirtschaftliches Archiv),
Springer, vol. 141(1), pages 33-49, April.
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