The European economy in an expanding world

Article Abstract:

The development of the Western European economy following the Second World War is studied. It is shown that economic development can be divided into two periods, namely, the rapid convergence with the productivity level of the US from 1950 to 1973 and the reassessment of economic policies between 1973 and 1993. It is also argued that future economic growth depends on the adoption of the technological achievements of other regions.

Research, Western Europe, International economic integration, Economic integration

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A vector autoregressive model of the Saudi Arabian economy

Article Abstract:

A vector autoregressive (VAR) model shows that global inflation and the country's oil policy govern Saudi Arabian economy. The VAR model further indicates that a small open economy with fixed exchange rates dependent on a single export economy faces difficulty in implementing monetary policies. Saudi Arabia, being a small open economy, has causal flows different from those of large economies.

Evaluation, Saudi Arabia, Monetary policy

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