Abstract
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.
| Language | English |
|---|---|
| Pages | 1-5 |
| Number of pages | 5 |
| Journal | Quarterly Economic Commentary |
| Volume | 23 |
| Issue number | 2 |
| Publication status | Published - Mar 1998 |
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Keywords
- Scottish economic appraisal
- Scottish economic activity
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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 journal › Article
TY - JOUR
T1 - The economic background [March 1998]
AU - Low, Kenneth
AU - Ashcroft, Brian
AU - Swales, Kim
PY - 1998/3
Y1 - 1998/3
N2 - 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.
AB - 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.
KW - Scottish economic appraisal
KW - Scottish economic activity
UR - http://www.strath.ac.uk/fraser/
UR - http://www.strath.ac.uk/frasercommentary/
M3 - Article
VL - 23
SP - 1
EP - 5
JO - Fraser of Allander Economic Commentary
T2 - Fraser of Allander Economic Commentary
JF - Fraser of Allander Economic Commentary
SN - 2046-5378
IS - 2
ER -