The economic background [December 1998]

Research output: Contribution to journalArticle

Abstract

The global economy has been dominated by a series of adverse financial shocks recently.
This includes the continuing problems in the Far East, a debt moratorium in Russia as well
as fears of contagion in Latin America. There is the possibility of further shocks with adverse
effects on financial markets that could lead to a global recession. It is more probable however that 1999 will see a considerable slowdown in economic activity. The IMF has forecast that it will grow by 3.7% in 1998, a considerable contraction compared to 1997 before rising to 4.6% in 1999.
LanguageEnglish
Pages1-6
Number of pages6
JournalQuarterly Economic Commentary
Volume24
Issue number1
Publication statusPublished - Dec 1998

Fingerprint

Russia
Economics
Global economy
Financial shocks
Global recession
Contraction
Contagion
Debt
Latin America
Economic activity
Financial markets

Keywords

  • Scottish economic appraisal
  • Scottish economic activity

Cite this

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title = "The economic background [December 1998]",
abstract = "The global economy has been dominated by a series of adverse financial shocks recently.This includes the continuing problems in the Far East, a debt moratorium in Russia as wellas fears of contagion in Latin America. There is the possibility of further shocks with adverseeffects on financial markets that could lead to a global recession. It is more probable however that 1999 will see a considerable slowdown in economic activity. The IMF has forecast that it will grow by 3.7{\%} in 1998, a considerable contraction compared to 1997 before rising to 4.6{\%} in 1999.",
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}

The economic background [December 1998]. / Low, Kenneth; Ashcroft, Brian; Swales, Kim.

In: Quarterly Economic Commentary, Vol. 24, No. 1, 12.1998, p. 1-6.

Research output: Contribution to journalArticle

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