Global Economic Growth(2 pages)
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Global Economic Growth
Lecture for 1/14
- Lecture number:
- Lecture Note
- University of Colorado at Boulder
- Econ 3535 - Natural Resource Economics
Unformatted text preview:
Lecture 1 Current Lecture Global Economic Growth: real GDP growth (2014) = 2.6% 2015 = 3 (was 3.4%) U.S.: Forecast 2015: 3.2% (was 3%) Reasons: Falling oil prices 1 cent = $1b increase in disposable income Key contributor to global economic growth Eurozone: Two recessions since 2007 2015: 1.1% (was 1.8%) Reasons High government debt Lack of international competitiveness Emerging Markets: 2015: 4.8% (was 5.3%) China: 7.1% (7.5%) India: 6.4% (6.3%) Brazil: 1% (2.7%) Reasons: Debt obligations Weak currencies Russia: 2015: -2.9% (0.5%) Reasons: Falling oil prices Western sanctions (Ukraine) The Resource Paradox: Occurs every ten years in most developing countries (according to the World Bank) Capital= physical Kinds of Capital: ECON 3535 1st Edition
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