The world economy

1998 ◽  
Vol 166 ◽  
pp. 28-34
Author(s):  
Nigel Pain
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Commodity Prices ◽  
Domestic Demand ◽  
Late Spring ◽  
The Past ◽  
The World ◽  
Asian Economies ◽  
Economic Outlook

The economic outlook for the global economy has deteriorated appreciably over the past six months. By the late spring it had already become clear that growth in the OECD economies would slow to around 2½ per cent this year from 3 per cent in 1997, with strong domestic demand outside Japan being offset by the growing impact of the contraction in the Asian economies. However the further slowdown projected in 1999 appeared relatively benign, with monetary conditions remaining accommodative in the major economies and commodity prices remaining weak.

The world economy

1998 ◽  
Vol 165 ◽  
pp. 35-42
Author(s):  
Nigel Pain
Keyword(s):  
Capital Market ◽  
World Trade ◽  
Global Economy ◽  
World Economy ◽  
Domestic Demand ◽  
The World ◽  
Asian Economies ◽  
Trade Growth ◽  
The Impact ◽  
The Capital Market

Developments in the Asian economies have clearly begun to be felt in the wider global economy in recent months. It has always been expected that the OECD economies would be affected by the aftermath of the capital market turmoil last year, although the timing and magnitude of the impact was difficult to predict. Domestic demand in the affected Asian economies has proved much weaker than expected, with the effects magnified by a continued downturn in Japan. GDP fell by 5¾ per cent in Korea in the first quarter of this year and by 1¼ per cent in Japan. The aggregate volume of merchandise imports in Asia is expected to decline by around 5½ per cent this year, with falls of up to 25 per cent in countries such as Korea, Thailand and Indonesia. This largely accounts for our projected decline in world trade growth to under 6 per cent this year from an estimated 9¾ per cent in 1997.

The World Economy through the Lens of the United Nations

2018 ◽  
Keyword(s):  
World War Ii ◽  
United Nations ◽  
Global Economy ◽  
World Economy ◽  
Social Conditions ◽  
Policy Recommendations ◽  
The Past ◽  
The World ◽  
World Economic ◽  
The United Nations

This volume documents the intellectual influence of the United Nations through its flagship publication, the World Economic and Social Survey (WESS) on its seventieth anniversary. Prepared at the Department of Economic and Social Affairs (DESA) and first published in 1948 as the World Economic Report (subsequently renamed the WESS), it is the oldest continuous post-World War II publication of this kind, recording and analysing the performance of the global economy and social development trends, and offering relevant policy recommendations. This volume highlights how well WESS has tracked global economic and social conditions, and how its analyses have influenced and have been influenced by the prevailing discourse over the past seven decades. The volume critically reflects on its policy recommendations and their influence on actual policymaking and the shaping of the world economy. Although world economic and social conditions have changed significantly over the past seven decades and so have the policy recommendations of the Survey, some of its earlier recommendations remain relevant today; recommendations in WESS provided seven decades ago seem remarkably pertinent as the world currently struggles to regain high levels of employment and economic activity. Thus, in many ways, WESS was ahead of the curve on many substantive issues. Publication of this volume will enhance the interest of the wider community of policymakers, academics, development practitioners, and members of civil society in the analytical work of the UN in general and UN-DESA in particular.

The World Economy

2007 ◽  
Vol 200 ◽  
pp. 7-30 ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Housing Markets ◽  
Housing Investment ◽  
The Past ◽  
Us Economy ◽  
The Us ◽  
The World ◽  
Monetary Authorities ◽  
Rates Of Growth

The global economy expanded by 5.3 per cent in 2006, one of the fastest rates of growth in the past 35 years. We project further expansions of 5 per cent this year and 4¾ per cent in 2008. The key risks to the forecast that we highlight in this Review relate to global housing markets and the current stance of monetary policy. The US economy is restrained by the recent correction in its housing market, which is expected to continue to weigh on the economy through 2008. There is some concern that the housing investment downturn may spread to other economies, and in this report we explore the areas most at risk to such a contagion. We also consider the recent volatility in the oil price, which makes it difficult for monetary authorities to distinguish signal from noise. If too much emphasis is placed on what subsequently turns out to be noise, policy settings could turn out to be overly lax or stringent.

scholarly journals The World Economy

2018 ◽  
Vol 246 ◽  
pp. F3-F3
Keyword(s):  
Global Economy ◽  
World Economy ◽  
List Type ◽  
Medium Term ◽  
Advanced Economies ◽  
The World ◽  
Full Capacity ◽  
Near Term ◽  
Global Growth ◽  
Economic Outlook

The global economy is set to continue to grow at a pace of slightly below 4 per cent a year in the near term.Oil prices have risen further and with some advanced economies appearing to be operating at close to full capacity, there is a risk that inflation will increase. Our expectation is that any rise will be limited.US tariff increases and confrontational trade rhetoric are adding uncertainty to the global economic outlook, with a bias towards slower growth as a consequence.Without a recovery in productivity growth, the pace of economic expansion in the medium term will be slower than at present. Our medium term outlook is for global growth of around 3.5 per cent a year.

scholarly journals The World Economy: Forecast Summary

2018 ◽  
Vol 244 ◽  
pp. F3-F3
Keyword(s):  
Productivity Growth ◽  
Global Economy ◽  
World Economy ◽  
List Type ◽  
Medium Term ◽  
Advanced Economies ◽  
The World ◽  
Full Capacity ◽  
Global Growth ◽  
Economic Outlook

Last year the global economy expanded at its fastest pace since 2011. We continue to expect to see slightly faster global growth this year with momentum being carried forward. We expect growth to continue to be broadly based.With some advanced economies appearing to be operating at close to full capacity, a slowdown in the pace of expansion in the medium term is likely unless productivity growth picks up substantially. We retain our view that the medium term outlook is for growth of around 3.5 per cent a year.No economic outlook is without uncertainties. Issues such as increases in tariffs, the effect of the gradual removal of monetary accommodation and the prolonged persistence of low inflation, create potential for surprises to the forecast.

scholarly journals IMPACT OF COVID-19 ON WORLD ECONOMY: THE FIRST SUMMARY OF 2020

2021 ◽  
Author(s):  
Kateryna Sydorenko ◽  
◽  
Olha Sheremet ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Large Scale ◽  
Negative Impact ◽  
Commodity Prices ◽  
Developed Countries ◽  
Development Planning ◽  
Synthesis Methods ◽  
Economic Relations ◽  
The World

The purpose of article is to comprehensively assess the consequences of COVID-19 for global economy, regions, industries and different forms of international economic relations. In early 2020, the world was hit by the COVID-19 pandemic. To save the lives of citizens and the integrity of the health care system, countries were forced to resort to radical measures: lockdowns, which included the complete or partial cessation of international traffic and the reduction of economic activity. Such actions had a negative impact on the world economy: a drop in world production, a decrease in international demand, an increase in unemployment and poverty, a decline in FDI flows. The situation has reached the level of the Great Depression of the 1930s. The COVID-19 crisis has affected regions in different ways. The research methodology combines general and special methods of scientific knowledge: descriptive-analytical, analysis and synthesis, methods of quantitative and qualitative comparisons. The information basis of the article is research and periodical publications of foreign economists, materials and analytical reports of international organizations. The results of the study revealed that the global economic crisis caused by COVID-19 started with China, which applied extremely strict quarantine restrictions and already at the end of 2020 showed economic growth. And gradually spread to Europe, North America and the rest of the world. The negative impact of COVID-19 on developed countries with a high proportion of the older people among the population most vulnerable to the disease has been most noticeable. Europe is the region that has suffered the most. For Latin America, Africa and parts of developing Asia, the COVID-19 crisis has been burdened by permanent economic problems and natural disasters: the weakness of the financial system, large public debt, high dependence on commodity prices, locust infestations etc. Developed countries had a margin of stability, so they conducted large-scale programs to support business and households, especially effective were credit guarantee and job preservation state programs. While developing countries were less affected by the spread of the disease but did not have the financial resources to deploy large-scale government assistance programs. New imbalances have emerged in the structure of the world economy. Some industries suffered huge losses and found themselves on the brink of survival (tourism, hotel and restaurant business, entertainment, etc.), unemployment rose significantly; others, on the contrary, worked at full capacity 24/7 and workers were forced to work overtime. FDI flows fell below the level of 2008-2009. The least FDI came to developed countries. Most FDI accounted for mergers and acquisitions in 2020, while investment in existing production assets suffered the most. This trend is expected to continue in 2021. According to the forecast, 2021 should mark the beginning of economic recovery, but it is unlikely to reach the level of 2019. The results of this study could be used in further research, also as in development, planning and implementation of state crisis strategies.

At a Glance…: The World Economy

2016 ◽  
Vol 235 ◽  
pp. F2-F2
Keyword(s):  
World Economy ◽  
Emerging Market ◽  
Commodity Prices ◽  
List Type ◽  
Equity Prices ◽  
Advanced Economies ◽  
Global Demand ◽  
The World ◽  
Recent Falls ◽  
Economic Outlook

The world economy grew by 3.0 per cent in 2015, as indicated in our last two forecasts. It is now projected to grow only slightly faster this year, by 3.2 per cent, and by 3.8 per cent in 2017.In the advanced economies, the modest and uneven recovery is expected to continue, while many major emerging market economies continue to face significant challenges, with slower growth in some cases and deep recessions in others.The renewed decline in global oil prices in the past three months, accompanied by sharp falls in equity prices worldwide, have increased uncertainty about the global economic outlook.Recent falls in oil and other global commodity prices will lower inflation again in the short term, but should boost global demand while increasing the challenges faced by commodity producers.

Arab Countries in Transition - Economic Outlook and Key Challenges - Deauville Partnership Ministerial Meeting

Policy Papers ◽  
2012 ◽  
Vol 2012 (80) ◽  
Author(s):  
Keyword(s):  
Global Economy ◽  
Commodity Prices ◽  
Arab Countries ◽  
Policy Uncertainty ◽  
Short Term ◽  
Policy Action ◽  
The Past ◽  
Countries In Transition ◽  
Economic Outlook ◽  
Macroeconomic Stability

Political uncertainty in the Arab Countries in Transition (ACT) has continued in recent months, especially as the escalation of the conflict in Syria is creating negative regional spillovers.1 While transition governments have maintained macroeconomic stability thus far, serious short-term risks continue, and the authorities have made limited progress in building consensus for needed economic reforms. With the exception of Libya, the ACTs’ growth in 2012 has remained weak in light of continued policy uncertainty, regional tensions, the deteriorating global economy, and high food and fuel commodity prices. A moderate recovery is expected in 2013. The shrinking of fiscal and reserve buffers over the past year has left very little policy space and heightened vulnerabilities. Prompt policy action and timely and adequate international support are essential to maintain macroeconomic stability and address long-running structural deficiencies, to lay the foundation for inclusive growth and job creation for a young and growing population.

scholarly journals Foreword

10.26458/1920 ◽  
2019 ◽  
Vol 19 (2) ◽  
pp. 15-22
Author(s):  
Elena GURGU
Keyword(s):  
Tax Policy ◽  
Global Economy ◽  
World Economy ◽  
Central Banks ◽  
Financial Conditions ◽  
The World ◽  
Economic Outlook

The global economy of mid-2019 is a fragile one and needs urgent cooperation, OECD analysts said in OECD Economic Outlook issued in May 2019. Trade and policy uncertainties could significantly harm the world economy during this year and would further contribute to the growing division of people.Trade and investment have slowed drastically, especially in Europe and Asia. The confidence of companies and consumers has slowed down. In response, financial conditions have relaxed as the central banks have moved towards a more coherent monetary situation. Tax policy has provided incentives only in a few countries.

The Role of Technological Change in the Long-run Global Economy Forecasting

2013 ◽  
pp. 97-116 ◽  
Author(s):  
A. Apokin
Keyword(s):  
Technological Change ◽  
Data Quality ◽  
Long Range ◽  
Global Economy ◽  
World Economy ◽  
Qualitative Approaches ◽  
Long Run ◽  
The World ◽  
National Economies

The author compares several quantitative and qualitative approaches to forecasting to find appropriate methods to incorporate technological change in long-range forecasts of the world economy. A?number of long-run forecasts (with horizons over 10 years) for the world economy and national economies is reviewed to outline advantages and drawbacks for different ways to account for technological change. Various approaches based on their sensitivity to data quality and robustness to model misspecifications are compared and recommendations are offered on the choice of appropriate technique in long-run forecasts of the world economy in the presence of technological change.

Sign in / Sign up

Export Citation Format

Share Document