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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451943644
Category : Business & Economics
Languages : en
Pages : 164
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Book Description
This paper reviews the long-term growth performance of the major industrial countries and discusses some of the many factors that have been identified as possible sources of the marked slowdown in growth since the early 1970s. According to the view of different demographic developments across countries, it is useful to break the growth of output down into changes in tabor input and changes in labor productivity in order to obtain a basis for cross-country comparisons. Wage behavior in the face of energy price shocks appears to have differed considerably among the major industrial countries. Increased uncertainty, reflecting, in particular, changes in the international economic environment and the stop-go financial policies of several of the major countries during the 1970s, and is frequently cited as a possible reason for the slowdown in growth, mainly through its impact on private investment. Views on the contribution of slower net capital accumulation to the deceleration in growth depend upon assessments of whether the efficiency of investment declined significantly after 1973 and on assumptions made about technological change and the embodiment of technical progress.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451943644
Category : Business & Economics
Languages : en
Pages : 164
Get Book Here
Book Description
This paper reviews the long-term growth performance of the major industrial countries and discusses some of the many factors that have been identified as possible sources of the marked slowdown in growth since the early 1970s. According to the view of different demographic developments across countries, it is useful to break the growth of output down into changes in tabor input and changes in labor productivity in order to obtain a basis for cross-country comparisons. Wage behavior in the face of energy price shocks appears to have differed considerably among the major industrial countries. Increased uncertainty, reflecting, in particular, changes in the international economic environment and the stop-go financial policies of several of the major countries during the 1970s, and is frequently cited as a possible reason for the slowdown in growth, mainly through its impact on private investment. Views on the contribution of slower net capital accumulation to the deceleration in growth depend upon assessments of whether the efficiency of investment declined significantly after 1973 and on assumptions made about technological change and the embodiment of technical progress.
Author:
Publisher:
ISBN:
Category : Economic forecasting
Languages : en
Pages : 382
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Book Description
Author: International Monetary Fund. Research Dept.
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781616351199
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
The September 2011 edition of the World Economic Outlook assesses the prospects for the global economy, which is now in a dangerous new phase. Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. Against a backdrop of unresolved structural fragilities, a barrage of shocks hit the international economy this year, including the devastating Japanese earthquake and tsunami, unrest in some oil-producing countries, and the major financial turbulence in the euro area. Two of the forces now shaping the global economy are high and rising commodity prices and the need for many economies to address large budget deficits. Chapter 3 examines the inflationary effects of commodity price movements and the appropriate monetary policy response. Chapter 4 explores the implications of efforts by advanced economies to restore fiscal sustainability and by emerging and developing economies to tighten fiscal policy to rebuild fiscal policy room and in some cases to restrain overheating pressures.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451941765
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
This paper provides an assessment of trends in the international capital markets, including most notably recent market shocks to the financial system and developments in the debt situation. It also reviews the scope of progress achieved over the last few years in strengthening the financial system. Given the extensive changes that have taken place in domestic and international financial markets, the authorities in all industrial countries have begun to adapt their supervisory and regulatory framework to reflect better the new financial environment. These efforts acquired added importance with the recent financial market shocks. The outlook for lending to developing countries that have experienced payments difficulties has deteriorated during the past year. For most of these countries, the prospect for a resumption of spontaneous general purpose bank lending appears very limited. In gauging the vulnerability of the financial system, it should be borne in mind that adverse economic circumstances affecting sovereign loans could have a simultaneous, negative impact on domestic credit quality. In some countries, bank exposures to energy, agriculture, real estate, shipping, and elements of heavy industry remain problematic.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451944330
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
This paper highlights that the first half of 1987 was characterized by considerable uncertainty about the world economic situation and prospects. Following a disappointing growth performance in industrial countries in 1986, and deterioration in the external financial position of many developing countries, signs of sluggishness in some indicators early in 1987 have given rise to concern that economic activity might weaken further in 1987 and next year. Such fears have been aggravated by the persistence of historically large imbalances on current account and increasing trade frictions.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1498398588
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
Major macroeconomic realignments are affecting prospects differentially across the world’s countries and regions. The April 2016 WEO examines the causes and implications of these realignments—including the slowdown and rebalancing in China, a further decline in commodity prices, a related slowdown in investment and trade, and declining capital flows to emerging market and developing economies—which are generating substantial uncertainty and affecting the outlook for the global economy. Additionally, analytical chapters examine the slowdown in capital flows to emerging market economies since their 2010 peak—its main characteristics, how it compares with past slowdowns, the factors that are driving it, and whether exchange rate flexibility has changed the dynamics of the capital inflow cycle—and assess whether product and labor market reforms can improve the economic outlook in advanced economies, looking at the recent evolution and scope for further reform, the channels through which reforms affect economic activity under strong versus weak economic conditions, reforms’ short- to medium-term macroeconomic effects, and sequencing of reforms and coordination with other policies to maximize their potential quantitative economic benefits. A special feature analyzes in depth the energy transition in an era of low fossil fuel prices.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589068068
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
This edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451944373
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
This paper highlights that the performance of the world economy in the first half of 1988 has been considerably more satisfactory than was expected in the wake of the sharp stock market decline in October 1987. Output in industrial countries has grown strongly, world trade has been robust, and inflation appears to have remained under control. Moreover, the shifts in real trade flows induced by earlier exchange rate movements are at last beginning to have a visible effect on the payments imbalances of the three largest countries.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1451944438
Category : Business & Economics
Languages : en
Pages : 164
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Book Description
This paper highlights that after two years of rapid growth in 1987 and 1988, there are now signs that the economic expansion in industrial countries is moderating to more sustainable rates. Inflation pressures have built up over 1988, reflecting high levels of resource utilization as well as certain temporary factors, but monetary conditions have been tightened substantially. Although the risk of a dangerous acceleration of inflation still exists, it appears to have diminished somewhat. Growth has also been strong in many developing countries, particularly exporters of manufactures.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1484348834
Category : Business & Economics
Languages : en
Pages : 657
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Book Description
Global growth is in low gear, and the drivers of activity are changing. These dynamics raise new policy challenges. Advanced economies are growing again but must continue financial sector repair, pursue fiscal consolidation, and spur job growth. Emerging market economies face the dual challenges of slowing growth and tighter global financial conditions. This issue of the World Economic Outlook examines the potential spillovers from these transitions and the appropriate policy responses. Chapter 3 explores how output comovements are influenced by policy and financial shocks, growth surprises, and other linkages. Chapter 4 assesses why certain emerging market economies were able to avoid the classical boom-and-bust cycle in the face of volatile capital flows during the global financial crisis.
