The World Economy: Global impact of financial market and oil price developments

Anonymous

National Institute Economic Review, 2005, vol. 194, 8-33

Abstract: Global growth was at its strongest for over 20 years in 2004, and is expected to decline from 5.1 per cent to 4.4 per cent in 2005. Growth stabilised in the first half of 2005, after decelerations in the US in the first half of 2004 and in the European Union in the second half of 2004. Of the major economies, only Japan recorded a significant strengthening in the first half of the year relative to the previous six months, and on a global level this was offset by modest slowdowns in North America. The slowdown in Canada, illustrated in chart 1, reflects a sharp deceleration in export growth, while domestic demand growth outpaced all other major economies in the first half of 2005. World trade growth moderated somewhat from the rapid growth recorded in 2004, with a sharp slowdown in import growth from the Euro Area, accompanied by more modest decelerations in the US, Japan, the UK and Canada.

Date: 2005
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:194:y:2005:i::p:8-33_3

Access Statistics for this article

More articles in National Institute Economic Review from National Institute of Economic and Social Research Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Contact information at EDIRC.
Bibliographic data for series maintained by Kirk Stebbing ().