{"id":118878,"date":"2024-01-22T22:13:28","date_gmt":"2024-01-22T21:13:28","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/118878\/"},"modified":"2024-11-07T05:00:12","modified_gmt":"2024-11-07T04:00:12","slug":"per-capita-growth-exceeding-pre-crisis-pace-only-in-usa-medium-term-projections-for-the-world-economy-until-2018","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/118878\/","title":{"rendered":"Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-118878","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"Several beneficial factors will enable the USA to enjoy the highest pace of growth among the industrialised economies in the years to come: lending behaviour has recovered from the financial market crisis and is working more smoothly nowadays than, for example, in the euro area. Investment is boosted by improving supply conditions for commodities, as shale gas and shale oil will have a major impact on energy markets. The labour force is growing rapidly and budgetary restrictions are expected to ease. While fiscal policy will turn less restrictive also in the euro area, the planned cuts in expenditure will largely occur in countries that are still struggling with the crisis and its repercussions (Portugal, Spain, Italy). The fragility of the banking sector is one of the key challenges for the euro area. Each of its members is also facing specific problems \u2013 such as the heavy export bias of the German economy, the under-developed institutional and regulatory framework in Italy or the extremely high unemployment in Spain.","onlinedate":"2014-01-30 12:00:00","lang":"English","publication_series":"","publication_date":"20131201","publication_date_year":"","publication_date_full":false,"publication_num_pages":"","keywords":"[\"World economy USA EU Euro area Asia China Japan\"]","jelcodes":"[]","related_publications":"[]","pdf":352019,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"18","monthly_report_pages":"198-210","monthly_report_pages_sort":"198","issue":"4","journal":"Austrian Economic Quarterly","publisher":"","invisible":false,"external":false,"embargo_date":"2014-01-30 12:00:00","types":[183747],"research_groups":[3500],"collaboration":"","persons":[3865],"persons_data":"[{\"personId\":3865,\"personName\":\"Stefan Schiman\",\"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>Schiman, S.<\\\/span> (2013). <span>Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018<\\\/span>. <span><em>Austrian Economic Quarterly<\\\/em><\\\/span>, <em>18<\\\/em>(4), 198-210. <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/47118\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/47118<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Schiman S<\\\/span>. <span class=\\\"title\\\"><span>Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018<\\\/span><\\\/span>. <span>Austrian Economic Quarterly<\\\/span>. 2013 Dec;18(4):198-210.<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{115d6a19f4624deba5796ad14818c963,<\\\/div><div>  title    = \\\"Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018\\\",<\\\/div><div>  abstract = \\\"Several beneficial factors will enable the USA to enjoy the highest pace of growth among the industrialised economies in the years to come: lending behaviour has recovered from the financial market crisis and is working more smoothly nowadays than, for example, in the euro area. Investment is boosted by improving supply conditions for commodities, as shale gas and shale oil will have a major impact on energy markets. The labour force is growing rapidly and budgetary restrictions are expected to ease. While fiscal policy will turn less restrictive also in the euro area, the planned cuts in expenditure will largely occur in countries that are still struggling with the crisis and its repercussions (Portugal, Spain, Italy). The fragility of the banking sector is one of the key challenges for the euro area. Each of its members is also facing specific problems \u2013 such as the heavy export bias of the German economy, the under-developed institutional and regulatory framework in Italy or the extremely high unemployment in Spain.\\\",<\\\/div><div>  keywords = \\\"World economy USA EU Euro area Asia China Japan, World economy USA EU Euro area Asia China Japan\\\",<\\\/div><div>  author   = \\\"Stefan Schiman\\\",<\\\/div><div>  note     = \\\"Medium-term Forecast: World Economy\\\",<\\\/div><div>  year     = \\\"2013\\\",<\\\/div><div>  month    = dec,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  volume   = \\\"18\\\",<\\\/div><div>  pages    = \\\"198--210\\\",<\\\/div><div>  journal  = \\\"Austrian Economic Quarterly\\\",<\\\/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  - Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018<\\\/p><p>AU  - Schiman, Stefan<\\\/p><p>N1  - Medium-term Forecast: World Economy<\\\/p><p>PY  - 2013\\\/12<\\\/p><p>Y1  - 2013\\\/12<\\\/p><p>N2  - Several beneficial factors will enable the USA to enjoy the highest pace of growth among the industrialised economies in the years to come: lending behaviour has recovered from the financial market crisis and is working more smoothly nowadays than, for example, in the euro area. Investment is boosted by improving supply conditions for commodities, as shale gas and shale oil will have a major impact on energy markets. The labour force is growing rapidly and budgetary restrictions are expected to ease. While fiscal policy will turn less restrictive also in the euro area, the planned cuts in expenditure will largely occur in countries that are still struggling with the crisis and its repercussions (Portugal, Spain, Italy). The fragility of the banking sector is one of the key challenges for the euro area. Each of its members is also facing specific problems \u2013 such as the heavy export bias of the German economy, the under-developed institutional and regulatory framework in Italy or the extremely high unemployment in Spain.<\\\/p><p>AB  - Several beneficial factors will enable the USA to enjoy the highest pace of growth among the industrialised economies in the years to come: lending behaviour has recovered from the financial market crisis and is working more smoothly nowadays than, for example, in the euro area. Investment is boosted by improving supply conditions for commodities, as shale gas and shale oil will have a major impact on energy markets. The labour force is growing rapidly and budgetary restrictions are expected to ease. While fiscal policy will turn less restrictive also in the euro area, the planned cuts in expenditure will largely occur in countries that are still struggling with the crisis and its repercussions (Portugal, Spain, Italy). The fragility of the banking sector is one of the key challenges for the euro area. Each of its members is also facing specific problems \u2013 such as the heavy export bias of the German economy, the under-developed institutional and regulatory framework in Italy or the extremely high unemployment in Spain.<\\\/p><p>KW  - World economy USA EU Euro area Asia China Japan<\\\/p><p>KW  - World economy USA EU Euro area Asia China Japan<\\\/p><p>M3  - WIFO series<\\\/p><p>VL  - 18<\\\/p><p>SP  - 198<\\\/p><p>EP  - 210<\\\/p><p>JO  - Austrian Economic Quarterly<\\\/p><p>JF  - Austrian Economic Quarterly<\\\/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>Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. 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