The Global Role of the U.S. Economy : Linkages, Policies and Spillovers

Kose, M. Ayhan ; Lakatos, Csilla ; Ohnsorge, Franziska ; Stocker, Marc

World Bank, Washington, DC

关键词: BUSINESS CYCLES;    GLOBAL ECONOMY;    globalization;    spillovers;    fiscal policy;   

DOI  :  10.1596/1813-9450-7962
RP-ID  :  WPS7962

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper analyzes the role of theUnited States in the global economy and examines the extentof global spillovers from changes in U.S. growth, monetaryand fiscal policies, and uncertainty in its financialmarkets and economic policies. Developments in the U.S.economy, the world's largest, have effects far beyondits shores. A surge in U.S. growth could provide asignificant boost to the global economy. Tightening U.S.financial conditions -- whether due to contractionary U.S.monetary policy or other reasons -- could reverberate acrossglobal financial markets, with adverse effects on someemerging market and developing economies that rely heavilyon external financing. In addition, lingering uncertaintyabout the course of U.S. economic policy could have anappreciably negative effect on global growth prospects.While the United States plays a critical role in the worldeconomy, activity in the rest of the world is also importantfor the United States.