Austrian Economic Quarterly

The "Austrian Economic Quarterly", followed by the "WIFO Bulletin" as of January 2014, published English articles on these topics:

  • European economic integration,
  • Economic cooperation with Eastern European countries,
  • International competitiveness policies,
  • Economic outlooks in an international perspective.

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Per-Capita Growth Exceeding Pre-Crisis Pace Only in USA. Medium-term Projections for the World Economy until 2018
Austrian Economic Quarterly, 2013, 18(4), pp.198-210
Online since: 30.01.2014 0:00
Several beneficial factors will enable the USA to enjoy the highest pace of growth among the industrialised economies in the years to come: lending behaviour has recovered from the financial market crisis and is working more smoothly nowadays than, for example, in the euro area. Investment is boosted by improving supply conditions for commodities, as shale gas and shale oil will have a major impact on energy markets. The labour force is growing rapidly and budgetary restrictions are expected to ease. While fiscal policy will turn less restrictive also in the euro area, the planned cuts in expenditure will largely occur in countries that are still struggling with the crisis and its repercussions (Portugal, Spain, Italy). The fragility of the banking sector is one of the key challenges for the euro area. Each of its members is also facing specific problems – such as the heavy export bias of the German economy, the under-developed institutional and regulatory framework in Italy or the extremely high unemployment in Spain.
Keywords:World economy USA EU Euro area Asia China Japan
Research group:Macroeconomics and European Economic Policy

Related issues

Pro-Kopf-Wachstum nur in den USA höher als vor der Krise. Mittelfristige Prognose der Weltwirtschaft bis 2018 (Growth of Per-capita Income Only in the USA Higher than before the Crisis. Medium-term Forecast for the World Economy until 2018)
WIFO-Monatsberichte, 2013, 86(10), pp.829-842
Online since: 28.10.2013 0:00
Unter den hochentwickelten Wirtschaftsräumen wird die Wirtschaft in den USA im Prognosezeitraum am stärksten wachsen (+2,9% pro Jahr). Auch das um die Bevölkerungsentwicklung bereinigte Wachstum fällt in den USA höher aus als in Großbritannien, im Euro-Raum oder in Japan. In China und Russland schwächt sich die Expansion auf +7,4% bzw. +3,9% pro Jahr ab. In Indien und Brasilien entspricht sie aufgrund der anhaltenden Zunahme der Erwerbsbevölkerung mit +6,7% bzw. +3,4% dem längerfristigen Durchschnitt. Gemessen am BIP pro Kopf schöpft Russland das Aufholpotential gegenüber den Industrieländern aber besser aus als Indien oder Brasilien. Die weltweite Wirtschaftsleistung wird mittelfristig um 3,2% pro Jahr zunehmen.

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apl. Prof. Dr. Hans Pitlik

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Tamara Fellinger

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Tatjana Weber

Activities: Publications, website, subscriptions