Consumption-led Expansions Lead to Lower Future Output Growth

• Autorzy: Matti Virén
• Języki publikacji: EN

Abstrakty

EN

When assessing future growth prospects, does the current structure of demand matter, i.e. does it affect the future growth? This question is analysed in our paper using global and EU panel data. The result is quite striking: consumption-led growth - either in terms of private or public or total consumption - is slower than investment-led or exports-led growth. The same qualitative result is obtained irrespectively of the length of the past growth period (lag window), yet the more often the past is characterised by consumption-led growth, the slower the growth rate is in the future. In this context, our research provides important insights for both structural and cyclical policies.(original abstract)

Słowa kluczowe

EN

Consumption; Economic growth; Consumption demand

PL

Konsumpcja; Wzrost gospodarczy; Popyt konsumpcyjny

• Czasopismo: Przegląd Statystyczny
• Rocznik: 2022
• Tom: 69
• Numer: z. 3
• Strony: 44--59

Twórcy

autor

Matti Virén

• University of Turku, School of Economics, Rehtorinpellonkatu , Turku, Finland

Bibliografia

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Identyfikatory

DOI

10.5604/01.3001.0016.2352.