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The Impact of U.S. Economic Growthon the Rest of the World; How Much Does it Matter?

Author

Listed:
  • Athanasios Vamvakidis
  • Vivek B. Arora

Abstract

This paper provides a quantitative assessment of the impact of economic growth in the United States on growth in other countries. Using panel data estimation, the paper finds a significant positive impact of U.S. growth on growth in the rest of the world, especially developing countries, during the past few decades. The evidence suggests that the impact of U.S. growth on other countries can be explained by the significance of the United States as a global trading partner. The paper provides estimates of the direct impact of trade with the United States on growth in several individual countries.

Suggested Citation

  • Athanasios Vamvakidis & Vivek B. Arora, 2001. "The Impact of U.S. Economic Growthon the Rest of the World; How Much Does it Matter?," IMF Working Papers 01/119, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:01/119
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    Cited by:

    1. Gabriel Cuadra & Horacio Sapriza, 2006. "Sovereign Default, Terms of Trade and Interest Rates in Emerging Markets," Working Papers 2006-01, Banco de México.
    2. Poshakwale, S. & Ganguly, G., 2015. "International shocks and growth in emerging markets," Global Finance Journal, Elsevier, vol. 26(C), pages 29-46.
    3. Hsiao, Frank S. T. & Hsiao, Mei-chu W. & Yamashita, Akio, 2003. "The impact of the US economy on the Asia-Pacific region: does it matter?," Journal of Asian Economics, Elsevier, vol. 14(2), pages 219-241, April.
    4. Egle Tafenau, 2004. "Modelling the Economic Growth of the Countries in the Baltic Sea Region," University of Tartu - Faculty of Economics and Business Administration, in: Tiiu Paas & Egle Tafenau (ed.), Modelling the Economies of the Baltic Sea Region, edition 1, volume 17, chapter 2, pages 54-91, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    5. Hakan Berument & Nildag Basak Ceylan & Bengisu Vural, 2006. "The effects of Japanese economic performance on Indonesia," Applied Economics Letters, Taylor & Francis Journals, vol. 13(8), pages 499-502.
    6. Daniel Zerfu Gurara & Mthuli Ncube, 2013. "Working Paper 183 - Global Economic Spillovers to Africa- A GVAR Approach," Working Paper Series 981, African Development Bank.

    More about this item

    Keywords

    Economic growth; International trade; United States; gdp per capita; trading partner; trading partners; net exports; real gdp; Macroeconomic Aspects Of International Trade And Finance;

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