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Article: An investigation of co-movements among the growth rates of the G-7 countries.
- Article from:
- Federal Reserve Bulletin
- Article date:
- October 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Board of Governors of the Federal Reserve System. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Early in 2000, after a decade of economic expansion, growth began to slow in the United States. Over the ensuing months, the growth rates of gross domestic product began to decline simultaneously in many countries, including each of the large, advanced economies that constitute what is known as the Group of Seven (G-7)--Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. The general slide in real (inflation adjusted) GDP growth seemed striking to many, and it fueled speculation that a period was emerging in which broad movements in the economies of the industrialized countries would be more closely linked. (1) Proponents of this view argued ...