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Economic Growth in Europe

Published online by Cambridge University Press:  26 March 2020

Ray Barrell
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Extract

Economic growth in Europe has been disappointing in the past few years, especially when compared to the US, and in addition growth in the UK has looked more robust than that in the large continental economies. There could be many factors that contribute to these differences, and they are addressed in the articles by Crafts; Barrell, Guillemineau and Holland; Mc Morrow and Röger; and Bebee and Hunt in this Review. This introduction discusses some of the factors affecting growth, and draws some conclusions from these studies that help us understand why growth may differ between countries for sustained periods of time, and also why underlying, or trend growth rates may vary over time.

Type
Articles
Information
National Institute Economic Review , Volume 199 , 01 January 2007 , pp. 65 - 68
Copyright
Copyright © 2007 National Institute of Economic and Social Research

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Footnotes

I would like to thank Dawn Holland, Martin Weale and Catherine Guillemineau for all their help, and the authors of the papers in the Review for their patience as well as their contributions.

References

Barrell, R. (2003), ‘Monetary and fiscal frameworks in Europe – assessing and choosing monetary and fiscal policy rules’, submissions on EMU from leading academics, HM Treasury EMU Assessment Exercise, June, pp. 3–14.Google Scholar
Byrne, J.P. and Davis, E.P. (2005), ‘The impact of short- and longrun exchange rate uncertainty on investment: a panel study of industrial countries’, Oxford Bulletin of Economics and Statistics, 67 (3), pp. 307–29.CrossRefGoogle Scholar
Metz, R., Riley, R. and Weale, M. (2004), ‘Economic performance in France, Germany and the United Kingdom: 1997-2002’, National Institute Economic Review, 188, pp. 83–99.CrossRefGoogle Scholar
Rodrik, D. (1998), ‘TFPG controversies, institutions and economic performance in East Asia’, in Hayami, Y. and Aoki, N. (eds), The Institutional Foundations of Economic Development in East Asia, London, Macmillan.Google Scholar