The National Bureau of Economic Research (NBER) confirmed in November 2001 what many had long suspected - that the U.S. economy was in recession and had been since March 2001. Thus ended an economic expansion that had begun in March 1991, the longest in the NBER chronology that dates to the mid-1800s. During this expansion, many economists and policy analysts talked about a "New Economy" characterized by a higher sustained level of productivity growth brought on by new networking information-sharing technologies. What does the New Economy's new recession look like? This article examines the 2001 recession by comparing it with previous recessions and investigating whether an added degree of resilience and flexibility is evident in the economy. The downturn appears to have been relatively mild and to have been tempered by the productive use of information technologies. Paradoxically, the information technology sector itself was hit exceptionally hard.
{"title":"New Economy, New Recession?","authors":"E. Koenig, Thomas F. Siems, Mark A. Wynne","doi":"10.2139/ssrn.305505","DOIUrl":"https://doi.org/10.2139/ssrn.305505","url":null,"abstract":"The National Bureau of Economic Research (NBER) confirmed in November 2001 what many had long suspected - that the U.S. economy was in recession and had been since March 2001. Thus ended an economic expansion that had begun in March 1991, the longest in the NBER chronology that dates to the mid-1800s. During this expansion, many economists and policy analysts talked about a \"New Economy\" characterized by a higher sustained level of productivity growth brought on by new networking information-sharing technologies. What does the New Economy's new recession look like? This article examines the 2001 recession by comparing it with previous recessions and investigating whether an added degree of resilience and flexibility is evident in the economy. The downturn appears to have been relatively mild and to have been tempered by the productive use of information technologies. Paradoxically, the information technology sector itself was hit exceptionally hard.","PeriodicalId":131091,"journal":{"name":"Negotiation Applications","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122135800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2001-11-01DOI: 10.11130/jei.2003.18.3.466
K. Anderson, S. Yao
If South Asia and Sub-Saharan Africa are to become constructively engaged in the next attempt by World Trade Organization (WTO) members to liberalize trade multilaterally, they need to be convinced that there will be sufficient gains from trade reform to warrant the inevitable costs of negotiation and adjustment. This paper provides new estimates of the likely economic effects on their economies of further liberalizing world trade post-Uruguay Round. The results show that the developing countries of South Asia and Sub-Saharan Africa have much to gain from taking part in the next round. However, those gains will be far greater the more those countries are willing to embrace reform at home so as to enable their firms to take greatest advantage of the opportunities provided by the opening up of markets abroad.
{"title":"How Can South Asia and Sub-Saharan Africa Gain from the Next Wto Round?","authors":"K. Anderson, S. Yao","doi":"10.11130/jei.2003.18.3.466","DOIUrl":"https://doi.org/10.11130/jei.2003.18.3.466","url":null,"abstract":"If South Asia and Sub-Saharan Africa are to become constructively engaged in the next attempt by World Trade Organization (WTO) members to liberalize trade multilaterally, they need to be convinced that there will be sufficient gains from trade reform to warrant the inevitable costs of negotiation and adjustment. This paper provides new estimates of the likely economic effects on their economies of further liberalizing world trade post-Uruguay Round. The results show that the developing countries of South Asia and Sub-Saharan Africa have much to gain from taking part in the next round. However, those gains will be far greater the more those countries are willing to embrace reform at home so as to enable their firms to take greatest advantage of the opportunities provided by the opening up of markets abroad.","PeriodicalId":131091,"journal":{"name":"Negotiation Applications","volume":"417 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131825160","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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