The World Economy

Anonymous

National Institute Economic Review, 2005, vol. 192, 11-32

Abstract: Growth in the world economy looks robust, with growth averaging over 4 per cent a year in the last 2 years and in the first two years of our forecast. Strong demand in North America is a major factor behind this growth, and it has been associated with increasing current account deficits for the US, as we can see in Chart 1. The emerging imbalances that this strong growth has produced present a major risk to the world economy as they may induce major realignments of exchange rates. We analyse the implications of a major shift in the risk premium on the dollar in Al-Eyd, Barrell and Pomerantz in this Review.

Date: 2005
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