Abstract
Although the international economy seems to be well on the road to recovery, the question remains as to how much of this recovery is of a short-term cyclical nature and how much an expression of a renewed longer-term trend towards economic growth. Are we merely witnessing an increased utilisation of existing production capacities without a parallel expansion of production capacities themselves? What conditions have to be fulfilled to ensure the latter?
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Partly based on the joint analysis of the five German Institutes of Economic Research “Die Lage der Weltwirtschaft und der westdeutschen Wirtschaft im Frühjahr 1984”.
OECD: Positive Adjustment Policy—Managing Structural Change, Paris 1983, p. 7.
Ibid., OECD: Positive Adjustment Policy—Managing Structural Change, Paris 1983, p. 8.
OECD: The Longer-Term Performance of OECD-Economies: Challenges facing Governments, Paris 1984, p. 7.
Ibid., OECD: The Longer-Term Performance of OECD-Economies: Challenges facing Governments, Paris 1984, p. 19.
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Lecture held at the 4th Annual Convention of the European Federation of Associations of Business Economists (slightly abridged version) in Rome, 16th May 1984.
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Schmahl, HJ. The prospects for the international economy. Intereconomics 19, 155–161 (1984). https://doi.org/10.1007/BF02928329
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DOI: https://doi.org/10.1007/BF02928329