{"id":103460,"date":"2024-01-22T13:34:41","date_gmt":"2024-01-22T12:34:41","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/103460\/"},"modified":"2024-11-07T02:54:06","modified_gmt":"2024-11-07T01:54:06","slug":"wirtschaftswachstum-in-europa-rascher-als-in-den-usa-weltkonjunktur-im-aufschwung-2","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/103460\/","title":{"rendered":"Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-103460","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The world economy is experiencing a vigorous upswing. Having overcome their financial crises, the countries of Asia and Latin America are contributing most strongly to economic growth. At the same time, the economies of Central and Eastern Europe have again started to expand. For the world as a whole, a growth rate of about 4 percent has been forecast for both this year and 2001, up from just above 3 percent in 1999. This production boom will result in a doubling of the growth rates of world trade to about 10 percent this year. A slight decline is being forecast for the coming year. The prolonged cyclical upturn of the American economy is continuing almost unabated. Nevertheless, the USA (GDP +3 percent) may well be overtaken by Europe (above all the euro zone with 3\u00bc percent growth of GDP) due to the weakness of the euro. This estimate is based on the scenario of a \"soft landing\" for the USA. The Japanese economy is unlikely to return to the high growth rates of the period before the recession in the coming year. Overall, the current upswing of the world economy will be accompanied by low inflation rates (around 2 percent in the EU both this and next year). For the first time, employment growth is accelerating substantially in Europe and will reach the U.S. level in the coming year. Thus, unemployment is expected to fall noticeably within the European Union for the first time in years (from around 10 percent in 1998 to 8 percent in 2001). Since its start on January 1, 1999, Economic and Monetary Union (EMU) has already had a major impact on the economic policy positions adopted by the economies of Western Europe. This applies not only to the members of the euro zone, but also to the other EU countries not participating in EMU. The asymmetrical economic policy structure \u2013 centralised monetary policy of the ECB and decentralised fiscal policies of the member states \u2013 has ultimately resulted in a culture of high stability. On the one hand, inflation rates have reached their lowest level in many years. On the other hand, the pressure for budget consolidation exercised within the framework of the Stability and Growth Pact has generated a surprising degree of fiscal discipline, with a number of EU countries expected to report a budget surplus in the coming years. The active and co-ordinated approach to employment policy is also bearing fruit in the form of growing employment and falling unemployment rates. The weakness of the euro is partly accounted for by the negative interest differential to the USA, but can also be attributed to the lack of confidence in the euro prior to its introduction as legal tender in 2002.","onlinedate":"2000-06-21 12:00:00","lang":"German","publication_series":"","publication_date":"20000601","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung; Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?\"]","jelcodes":"[]","related_publications":"[]","pdf":309622,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"73","monthly_report_pages":"369-375","monthly_report_pages_sort":"369","issue":"6","journal":"WIFO-Monatsberichte","publisher":"","invisible":false,"external":false,"embargo_date":"2000-06-21 12:00:00","types":[44312],"research_groups":[3500],"collaboration":"","persons":[3917],"persons_data":"[{\"personId\":3917,\"personName\":\"Fritz Breuss\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Breuss, F.<\\\/span> (2000). <span>Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung<\\\/span>. <span><em>WIFO-Monatsberichte<\\\/em><\\\/span>, <em>73<\\\/em>(6), 369-375. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/19289\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/19289<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Breuss F<\\\/span>. <span class=\\\"title\\\"><span>Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung<\\\/span><\\\/span>. <span>WIFO-Monatsberichte<\\\/span>. 2000 Jun;73(6):369-375.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{32a680159f0944839a1fbaf1d5cf15d1,<\\\/div><div>  title    = \\\"Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung\\\",<\\\/div><div>  abstract = \\\"Die Weltwirtschaft hat sich von der Abschw{\\\\\\\"a}chung im Jahr 1998 deutlich erholt. Der unerwartet starke Erd{\\\\\\\"o}lpreisanstieg hat den Konjunkturaufschwung nicht gebremst, das BIP wird heuer und n{\\\\\\\"a}chstes Jahr um rund 4\\\\% wachsen (nach knapp {\\\\\\\"u}ber +3\\\\% 1999). Dazu tragen vor allem die von den Finanzkrisen gesundeten Volkswirtschaften Asiens und Lateinamerikas bei. Auch die Wirtschaft Ost-Mitteleuropas hat wieder auf einen Wachstumskurs eingeschwenkt. F{\\\\\\\"u}r die USA wird mit einer {\\\"}weichen Landung{\\\"} der Konjunktur gerechnet, w{\\\\\\\"a}hrend in Europa die Dynamik auch im kommenden Jahr anhalten d{\\\\\\\"u}rfte. Insbesondere im Euro-Raum wird das Wirtschaftswachstum im Jahr 2001 jenes der USA {\\\\\\\"u}bertreffen. Die Inflation bleibt niedrig, das Wachstum der Besch{\\\\\\\"a}ftigung in Europa n{\\\\\\\"a}hert sich jenem der USA an und entsch{\\\\\\\"a}rft somit erstmals seit langem das Problem der Arbeitslosigkeit.\\\",<\\\/div><div>  keywords = \\\"Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung; Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?, Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung; Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?\\\",<\\\/div><div>  author   = \\\"Fritz Breuss\\\",<\\\/div><div>  note     = \\\"Weltkonjunktur\\\",<\\\/div><div>  year     = \\\"2000\\\",<\\\/div><div>  month    = jun,<\\\/div><div>  language = \\\"Deutsch\\\",<\\\/div><div>  volume   = \\\"73\\\",<\\\/div><div>  pages    = \\\"369--375\\\",<\\\/div><div>  journal  = \\\"WIFO-Monatsberichte\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung<\\\/p><p>AU  - Breuss, Fritz<\\\/p><p>N1  - Weltkonjunktur<\\\/p><p>PY  - 2000\\\/6<\\\/p><p>Y1  - 2000\\\/6<\\\/p><p>N2  - Die Weltwirtschaft hat sich von der Abschw\u00e4chung im Jahr 1998 deutlich erholt. Der unerwartet starke Erd\u00f6lpreisanstieg hat den Konjunkturaufschwung nicht gebremst, das BIP wird heuer und n\u00e4chstes Jahr um rund 4% wachsen (nach knapp \u00fcber +3% 1999). Dazu tragen vor allem die von den Finanzkrisen gesundeten Volkswirtschaften Asiens und Lateinamerikas bei. Auch die Wirtschaft Ost-Mitteleuropas hat wieder auf einen Wachstumskurs eingeschwenkt. F\u00fcr die USA wird mit einer \\\"weichen Landung\\\" der Konjunktur gerechnet, w\u00e4hrend in Europa die Dynamik auch im kommenden Jahr anhalten d\u00fcrfte. Insbesondere im Euro-Raum wird das Wirtschaftswachstum im Jahr 2001 jenes der USA \u00fcbertreffen. Die Inflation bleibt niedrig, das Wachstum der Besch\u00e4ftigung in Europa n\u00e4hert sich jenem der USA an und entsch\u00e4rft somit erstmals seit langem das Problem der Arbeitslosigkeit.<\\\/p><p>AB  - Die Weltwirtschaft hat sich von der Abschw\u00e4chung im Jahr 1998 deutlich erholt. Der unerwartet starke Erd\u00f6lpreisanstieg hat den Konjunkturaufschwung nicht gebremst, das BIP wird heuer und n\u00e4chstes Jahr um rund 4% wachsen (nach knapp \u00fcber +3% 1999). Dazu tragen vor allem die von den Finanzkrisen gesundeten Volkswirtschaften Asiens und Lateinamerikas bei. Auch die Wirtschaft Ost-Mitteleuropas hat wieder auf einen Wachstumskurs eingeschwenkt. F\u00fcr die USA wird mit einer \\\"weichen Landung\\\" der Konjunktur gerechnet, w\u00e4hrend in Europa die Dynamik auch im kommenden Jahr anhalten d\u00fcrfte. Insbesondere im Euro-Raum wird das Wirtschaftswachstum im Jahr 2001 jenes der USA \u00fcbertreffen. Die Inflation bleibt niedrig, das Wachstum der Besch\u00e4ftigung in Europa n\u00e4hert sich jenem der USA an und entsch\u00e4rft somit erstmals seit langem das Problem der Arbeitslosigkeit.<\\\/p><p>KW  - Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung; Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?<\\\/p><p>KW  - Wirtschaftswachstum in Europa rascher als in den USA? Weltkonjunktur im Aufschwung; Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?<\\\/p><p>M3  - WIFO-Schriftenreihen<\\\/p><p>VL  - 73<\\\/p><p>SP  - 369<\\\/p><p>EP  - 375<\\\/p><p>JO  - WIFO-Monatsberichte<\\\/p><p>JF  - WIFO-Monatsberichte<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA? - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/103460\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/103460\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-11-07T01:54:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/103460\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/103460\\\/\",\"name\":\"Global Economy on the Upswing \u2013 Is Europe about to Overtake the USA? 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