World economic situation remains precarious
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Global production increased at a rate of just 2% in 1998, half the previous year's growth. The USA and the EMU member countries in particular were spared a recession thanks to robust domestic demand. With continuing volatility on the financial markets, the world economic situation remains precarious.1 How can we expect the world economy to develop in the next two years?
KeywordsInterest Rate Monetary Policy World Economy Fiscal Policy Commodity Price
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- 1.For an in-depth analysis of economic developments see G. Weinert, E. Wohlers et al.: HWWA Report No. 188, 1999.Google Scholar