I *1 *1 ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) * ( ) ( ) ( ) ( ) ( ) ( ) (JCR) G7 *1) *) (1) JCR AAA ( ) 1 () 5 - IT 1
5 5 (%) 9. 3 5 3 8. 7. 5. 5.. 5 5 5 3 8 5 3.9 3.. 1/3 1/9 /3 /9 3/3 3/9 /3 /9 5/3
1 (%). /GDP. /GDP 18.3. 5 -. 3 -. 15.9 3 -. -8. 85 8 87 88 89 9 91 9 93 9 95 9 97 98 99 1 3 5 3 7 ( 9 8 7 5 3 1 85 8 87 88 89 9 91 9 93 9 95 9 97 98 99 1 3 5 ( 1 ( 5 3
( 9 13. 95 11. 11.1 7. 3.9 3.1 8.. 5.5 1.8 5. 55.5 8.1 33...3 5. 9.1 7. 7.3.1 3.8.7 15.3 9. 1.5 357.8 7. 3.8 81.8. 8.8 57.7 1. 11.7 1.1 3.7.5 9. 1. 7. 5.3 98.7 5.1 71. 57.1 1.3 7.3 1. 5. 1.7 9. 8. 81.1.7 115. 75.7 7.8 5. 1.3 33.1 1.7 5.1 18.3 538.7 3 8.9 85.5 75. 119.3 8. 55.7.9.7 3.5 1.5.1. 59.9 59. 9. 77.3 19.8 15. 9.7 75. 1. 55.7 1. 7. 7..5 9 87. 7.1 1.1 5.5 3.5 3. 18..3 3.3.9 1.3 3. 1. 95 87. 11.3 13.3 19.3 7. 3. 13.8.1 3.7 3. 1. 3.9 1. 87.5 11. 15... 19.7 1.1.3.9.5.9. 1. 1 8.5 1.9 11. 1. 11.5 15.3 1..3 5.8. 1. 3. 1. 8.9 15. 11. 1.5 1.1 1. 1.1..1. 1. 3. 1. 3 85.1 15. 13..9 1.8 9.8 11..1 7.. 1.1 3.5 1. 8. 1. 1.. 1.3 7.7 11.7. 8.7 3.3 1..3 1. (.% 5 5 1 GDP 3.5% 5 3 GDP 1 GDP 3. 1 1.3 GDP 3.7 37. 1 7. 39.1 8.5 11.1 1 7, IS 5.7 5. GDP 5
, 71 1,899 3,9 9 9 8.8 1 9 1. 13.3 5: FF 13 1 3 DSR 1 11 1 1 3 1 9 9 8 Debts/DPI CPI 1 8 7 5 9 91 9 93 9 95 9 97 98 99 1 3 ( )FRB GDP % 1 3 EU 8 GDP 1 EU 9 97 98 99 1 3 f5 f ( )5 ( ) JCR.% 1.% 5 EU 5
1% 1.% 1.8% 5 1% EU (SGP) (GDP 3%) 3 3.7% 5 9 5 SGP GDP.% % ) EU GDP.5%.% 5 % 9.% GDP 7 GDP %.% GDP 1% 3.% EU (SGP) (GDP 3%) 8 3 1 9 97 98 99 1 3 f5 f ( )5 ( ) JCR
3.% 3.7% 3 5 (R&D ) 3 7 GDP 1 5.% % 5 EU EU EU EU ) ERM 93 1 1 3 GDP 3% 98 1 GDP 3 3% 8 1 5 8 3 1 EMU EMU 1 7 91 9 93 9 95 9 97 98 99 1 3 ONS
EMU EU5 1 GDP GDP EU.3% 1.% 5 EU 1% JCR EU R&D ( ).3% 15.% 97 EU (SGP) (GDP 3%) 3 GDP 3.1% SGP 5 GDP.9% 5 5 GDP 3% 9 GDP 7 % 1 9 3 3 GDP 9 1 15 71.3% 1.% 9 97 98 99 1 3 f5 f ( )5 ( ) JCR GDP 8
GDP 1% 1,5 5.5 199 1 15 1 1 15 1,5.5 1995 8 15 8 1,5 3.8 199 3 8 3 7 1, 3.7 199 1 1 1 11 1 1, 3.5 1997 3 17 3 ) 5 3 JCR 9 98 98 99 3 7 3 9 GDP 1 7 9 1 77 5 7 (%) 8 - - NAFTA - -8-1 ( 5 JCR 5 9 91 9 93 9 95 9 97 98 99 1 3 5 OECD 9
3 G7 GDP.8. 1.9.8 5 3 GDP 5 G7 1
( ) G7 ( :%) GDP 1 ) *1, 11,78,71,18,1 1,78 99 *1 3 17.7 9. 8.5.1 59.3 57. 31.5 1 GNI PPP * 3 8,5 37,75 7,1 7, 7,9,83 3, *1 1 GDP 3 35, 37, 9, 9,5 3,375 5,57 7,51 *3 GDP *3 1.9. 1.. 3.1 1. 3.1 / 1..8 1..1.7 1.3 3.1.7 5.5 9.3 1..7 8.1 7. / 5. 5. 8.3 9. 5.1 9.3 7.3 *3..7 1.7. 1.3.3 1.9 (EU HICP) /.5. 1.5. 1..5. *3 * 1.5.3..1.9.3. / 1..8..7.9.9 5. 3.3 1. 1.7 11.1 5.5 1.5 1. 99/3 7.9. 1. 11. 5. 1.1 3. /GDP * 3 9.9 31.5 5. 5... 1. 99/3 3. 33.8. 5.9.8.3.7 /GDP * 3 37. 3.1 8.8 5.5 3.7 8.9.5 99/3 37.9 35.1 8. 53.3.7 8.3 1. GDP *3.1.3 3.7 3.7 3. 3.1 1.3 / 7.1.3.5.8.8.5 1. 3..8 1.1 1. 1.9.3. GDP * 99/3 5.8 1..8.3. 3.. 5.9.. 3. 3.5 3. 1.3 GDP *3 /..1.9. 1. 3. 1.1 GDP * 3 157.5.5. 3.9 39.7 1.5 73.3 99/3 11.8. 1. 59..8 11. 8.7 GDP * 3 79.1.8 51.9.1 3.9 97.1 3.3 99/3 5.7 1..5 38.3 35.9 98.9. GDP *3 3. 5.7 3.8. 1.9.. /.9. 1.3.9..7.3 /GDP *1 3 3.1.1.9 7.5. 5.7 19.5 99/3 9.5 19.7 5.8 9.1 5.5.1 19.9 3 3.3 59.8 19. 8. 9.5 3. 51.3 *1 98/.8 1.5 17.1 3.8.5. 7. *1 3 3.3 7.9 5.7 3. 1.9 3. 3. 1 833.9 75.9 8.8 35.3 5.3. 3. *1 IMF International Financial Statistics, April 5 * OECD Economic Outlook, December *3 OECD Economic Outlook, Preliminary Edition, May 5 * World Bank 5World Development Indicators, April 5 11