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Economic Growth Remaining Subdued. Economic Outlook for 2003 and 2004


  • Markus Marterbauer



Economic activity is expected to expand by only 1.1 percent in 2003. Thus, for the third year in a row, economic growth will be only 1 percent per year. Prospects for 2004 are fraught with great uncertainties regarding the geo-political development and the reaction of economic policy. At present, growth is projected at 1.7 percent. Both in 2003 and 2004, the rate of expansion is likely to be the same as in the euro area. A cyclical recovery in Europe seems feasible only if world-wide uncertainties subside and commodity prices ease markedly.

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  • Markus Marterbauer, 2003. "Economic Growth Remaining Subdued. Economic Outlook for 2003 and 2004," Austrian Economic Quarterly, WIFO, vol. 8(2), pages 40-50, May.
  • Handle: RePEc:wfo:wquart:y:2003:i:2:p:40-50

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    References listed on IDEAS

    1. Venables, Anthony J, 1996. "Equilibrium Locations of Vertically Linked Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(2), pages 341-359, May.
    2. Chonira Aturupane & Simeon Djankov & Bernard Hoekman, 1999. "Horizontal and vertical intra-industry trade between Eastern Europe and the European union," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 135(1), pages 62-81, March.
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