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Capitalism UnleashedFinance, Globalization, and Welfare$
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Andrew Glyn

Print publication date: 2007

Print ISBN-13: 9780199226795

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199226795.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 29 November 2021

Growth and Stability

Growth and Stability

(p.129) 6 Growth and Stability
Capitalism Unleashed


Oxford University Press

This chapter examines whether the great reversal in economic policy over the past twenty-five years has rekindled economic dynamism in rich countries and how the stability of output has been affected. It is shown that excitement over the new economy boom in the USA has dissipated with the collapse of the bubble. Japan has been stuck in a low growth quagmire for fifteen years, reflecting in part the after-effects of precipitate financial liberalization. Europe's economy, battered by the effects of German unification, has been growing only feebly, with mass unemployment in the large Continental economies and with little response to repeated doses of deregulation.

Keywords:   economic growth, USA, new economy, Japan, OECD, Europe, deregulation, unemployment

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