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The World Economy

Published online by Cambridge University Press:  26 March 2020

Ray Barrell ,
Julian Morgan ,
Nigel Pain  and
Florence Hubert
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Extract

Global growth appears to have been relatively strong during the last year. In the Anglo-Saxon world the economic expansion has now lasted six years. Growth in continental Europe also now appears to be relatively robust, after a significant slowdown in the first half of last year. The OECD economies are projected to grow by around 3 per cent this year. Despite this, there continues to be little evidence of emerging inflationary pressures. We anticipate that OECD inflation will average around 2 per cent in 1997, some 2–2½ percentage points lower than in the equivalent upswing in the late 1980s.

Type
Articles
Information
National Institute Economic Review , Volume 162 , October 1997 , pp. 25 - 55
Copyright
Copyright © 1997 National Institute of Economic and Social Research

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Footnotes

∗

We are grateful to Martin Weale and participants at a meeting of representatives from Central Banks, Finance Ministries and other European institutes held at NIESR on October 6 for helpful comments and to Dawn Holland and Dirk Te Velde for statistical assistance. The forecast was completed on October 10, 1997.

References

Barrell, R., Anderton, R., Lansbury, M. and Sefton, J., 1997 forthcoming, ‘FEERs for the NIEs’, in Collignon, S., Park, Y.C. and Pisani-Ferry, J. (eds.) Exchange Rate Policies in Emerging Asian Countries, Routledge. LondonGoogle Scholar