The Impact of U.S. Economic Growth on the Rest of the World: How Much Does it Matter?

27 Pages Posted: 1 Feb 2006

See all articles by Vivek B. Arora

Vivek B. Arora

International Monetary Fund (IMF) - African Department

Athanasios Vamvakidis

International Monetary Fund (IMF) - European Department

Date Written: August 2001

Abstract

This paper provides a quantitative assessment of the impact of economic growth in the United States on growth in other countries. Using panel data estimation, the paper finds a significant positive impact of U.S. growth on growth in the rest of the world, especially developing countries, during the past few decades. The evidence suggests that the impact of U.S. growth on other countries can be explained by the significance of the United States as a global trading partner. The paper provides estimates of the direct impact of trade with the United States on growth in several individual countries.

Keywords: Economic growth, international trade

JEL Classification: F4, O4

Suggested Citation

Arora, Vivek and Vamvakidis, Athanasios, The Impact of U.S. Economic Growth on the Rest of the World: How Much Does it Matter? (August 2001). IMF Working Paper No. 01/119, Available at SSRN: https://ssrn.com/abstract=879868

Vivek Arora (Contact Author)

International Monetary Fund (IMF) - African Department ( email )

700 19th Street, NW
Washington, DC 20431
United States

Athanasios Vamvakidis

International Monetary Fund (IMF) - European Department ( email )

700 19th Street NW
Washington, DC 20431
United States

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