The economic background [March 1998]

Research output: Contribution to journalArticle

Abstract

There is moderate to strong growth in the global economy (excluding the Asian crisis)
with strong Q3 1997 growth in the US although the Japanese economy is slowing. Both France and Germany are showing signs of a strengthening recovery. There are low stable interest rates and low inflation in the industrialised economies. The Far East has been hit by a currency crisis that is rooted in a weak financial system, overvalued currencies, large levels of foreign borrowing and capital inflows as well as political interference. The crisis has deepened and widened since December 1997 and forecasts of world growth have been revised downwards. The US and Europe are not as severely affected as Japan and others with close trading links with these countries.
LanguageEnglish
Pages1-5
Number of pages5
JournalQuarterly Economic Commentary
Volume23
Issue number2
Publication statusPublished - Mar 1998

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Economics
Currency crises
Japan
Global economy
Interest rates
Financial system
Borrowing
Asian crisis
Currency
Interference
Capital inflows
Japanese economy
France
Inflation
Germany

Keywords

  • Scottish economic appraisal
  • Scottish economic activity

Cite this

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title = "The economic background [March 1998]",
abstract = "There is moderate to strong growth in the global economy (excluding the Asian crisis)with strong Q3 1997 growth in the US although the Japanese economy is slowing. Both France and Germany are showing signs of a strengthening recovery. There are low stable interest rates and low inflation in the industrialised economies. The Far East has been hit by a currency crisis that is rooted in a weak financial system, overvalued currencies, large levels of foreign borrowing and capital inflows as well as political interference. The crisis has deepened and widened since December 1997 and forecasts of world growth have been revised downwards. The US and Europe are not as severely affected as Japan and others with close trading links with these countries.",
keywords = "Scottish economic appraisal, Scottish economic activity",
author = "Kenneth Low and Brian Ashcroft and Kim Swales",
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pages = "1--5",
journal = "Fraser of Allander Economic Commentary",
issn = "2046-5378",
publisher = "University of Strathclyde",
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}

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

In: Quarterly Economic Commentary, Vol. 23, No. 2, 03.1998, p. 1-5.

Research output: Contribution to journalArticle

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KW - Scottish economic activity

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