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Monetary Instability And Economic Growth

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  • Peterson, Willis L.

Abstract

Favorable conditions existed for world economic growth during the 1980s and early 1990s. Yet real GDP growth rates for 76 out of 87 countries included in this study decreased during this time, relative to the 1968-80 period. The middle income countries experienced the greatest decline in growth rates, followed by the low income group. Theory and evidence suggest that an increase in the instability of the growth rate of the money supply, largest in the middle income countries and next largest in the low income nations, contributed to this decline.

Suggested Citation

  • Peterson, Willis L., 1998. "Monetary Instability And Economic Growth," Bulletins 12980, University of Minnesota, Economic Development Center.
    • Handle: RePEc:ags:umedbu:12980
    DOI: 10.22004/ag.econ.12980
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    References listed on IDEAS

    as
    1. Lucas, Robert E, Jr, 1990. "Why Doesn't Capital Flow from Rich to Poor Countries?," American Economic Review, American Economic Association, vol. 80(2), pages 92-96, May.
    2. Landes, David S, 1990. "Why Are We So Rich and They So Poor?," American Economic Review, American Economic Association, vol. 80(2), pages 1-13, May.
    3. J. Bradford De Long & Lawrence H. Summers, 1991. "Equipment Investment and Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(2), pages 445-502.
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