| Tekijä: | |
| Otsikko: | The world economy in the autumn of 1998 |
| Lehti: | Economic Bulletin
1998 : NOV, VOL. 35:11, p. 3-6 |
| Asiasana: | Crises Growth Europe Japan Asia Russia |
| Kieli: | eng |
| Tiivistelmä: | There is an abridged version of the Evaluation of the economic situation by the (six) members of the working party of the German Economic Research Institutes, Berlin, Germany. - In the wake of the crisis in a number of regions and on financial markets, the situation of the world economy is highly uncertain. This year (1998) the global output has grown significantly more slowly than last year (1997), reflecting primarily the output losses in Japan and many Asian newly industrialising countries. Russia has suffered a massive crisis of confidence due to its high interest rates and the difficulties in financing its rapidly rising deficits. On the other hand, the Central European reforming countries have so far largely managed to avoid a financial and currency crisis. In the industrialised countries as a whole, economic activity has not been significantly affected by crisis. |
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