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


  • Stephan Schulmeister



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.

Suggested Citation

  • Stephan Schulmeister, 1997. "Monetary Union Promotes Growth in the EU. Medium-term Forecast for the World Economy until 2001," WIFO Monatsberichte (monthly reports), WIFO, vol. 70(10), pages 593-604, October.
  • Handle: RePEc:wfo:monber:y:1997:i:10:p:593-604

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