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Growth and trade in the United States and the world economy: Overview

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  • Salvatore, Dominick

Abstract

After the slow recovery from the 2008–2009 global financial crisis, the world economy faced slower growth than in the previous decade and even the prospect of a new global financial crisis. This paper starts by examining the reasons for the slow economic recovery and growth in the after the 2008–2009 global financial crisis and "great recession". Then, it examines the reasons the United States grew faster than other advanced countries (especially Europe and Japan), the slowing growth of emerging market economies (and even economic crisis in some of them), and whether the world is now (February 2020) sliding toward a new global financial crisis and recession.

Suggested Citation

  • Salvatore, Dominick, 2020. "Growth and trade in the United States and the world economy: Overview," Journal of Policy Modeling, Elsevier, vol. 42(4), pages 750-759.
    • Handle: RePEc:eee:jpolmo:v:42:y:2020:i:4:p:750-759
    DOI: 10.1016/j.jpolmod.2020.03.001
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    References listed on IDEAS

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    1. Salvatore Dominick, 2004. "Globalization, Comparative Advantage, and Europe's Double Competitive Squeeze," Global Economy Journal, De Gruyter, vol. 4(1), pages 1-20, October.
    2. repec:cbo:report:523702 is not listed on IDEAS
    3. Dominick Salvatore, 2017. "Europe's Growth Crisis: When and How Will It End?," The World Economy, Wiley Blackwell, vol. 40(5), pages 836-848, May.
    4. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    5. Congressional Budget Office, 2017. "An Update to the Budget and Economic Outlook: 2017 to 2027," Reports 52801, Congressional Budget Office.
    6. Dominick Salvatore, 1998. "Europe’s Structural and Competitiveness Problems and the Euro," The World Economy, Wiley Blackwell, vol. 21(2), pages 189-205, March.
    7. repec:cbo:report:523701 is not listed on IDEAS
    8. Congressional Budget Office, 2017. "The Budget and Economic Outlook: 2017 to 2027," Reports 52370, Congressional Budget Office.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

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    2. Taner Akan & Aycan Hepsağ & Şeref Bozoklu, 2022. "Explaining U.S. economic growth performance by macroeconomic governance, 1952–2018," Journal of Evolutionary Economics, Springer, vol. 32(5), pages 1437-1465, November.
    3. Salvatore, Dominick, 2021. "The U.S. and the world economy after Covid-19," Journal of Policy Modeling, Elsevier, vol. 43(4), pages 728-738.
    4. Goel, Rajeev K. & Saunoris, James W. & Goel, Srishti S., 2021. "Supply chain performance and economic growth: The impact of COVID-19 disruptions," Journal of Policy Modeling, Elsevier, vol. 43(2), pages 298-316.
    5. Zhang, Ling & Wang, Liang & Wang, Miaomiao & Yuan, Zengwei, 2024. "Multilevel analysis of copper resource reallocation in the anthroposphere through international trade," Resources Policy, Elsevier, vol. 88(C).
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    8. Nantembelele, Fatuma Abdallah & Yilmaz, Mustafa K. & Ari, Ali, 2023. "The effects of a US-China trade war on Sub-Saharan Africa: Pro-active domestic policies make the difference," Journal of Policy Modeling, Elsevier, vol. 45(6), pages 1296-1310.
    9. Amad Ali & Hafiz Abdul Muqeet & Tahir Khan & Asif Hussain & Muhammad Waseem & Kamran Ali Khan Niazi, 2023. "IoT-Enabled Campus Prosumer Microgrid Energy Management, Architecture, Storage Technologies, and Simulation Tools: A Comprehensive Study," Energies, MDPI, vol. 16(4), pages 1-19, February.
    10. Iglesias, Emma M., 2022. "The influence of extreme events such as Brexit and Covid-19 on equity markets," Journal of Policy Modeling, Elsevier, vol. 44(2), pages 418-430.
    11. Giammetti, Raffaele & Papi, Luca & Teobaldelli, Désirée & Ticchi, Davide, 2022. "The optimality of age-based lockdown policies," Journal of Policy Modeling, Elsevier, vol. 44(3), pages 722-738.
    12. Kamer-Ainur Aivaz & Ionela Florea Munteanu & Mari-Isabella Stan & Alina Chiriac, 2022. "A Multivariate Analysis of the Links between Transport Noncompliance and Financial Uncertainty in Times of COVID-19 Pandemics and War," Sustainability, MDPI, vol. 14(16), pages 1-23, August.

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