The editors of the 4% Growth Project asked Bush Growth Fellow Ike Brannon to look into 10 things that would happen if the U.S. economy...
The editors of the 4% Growth Project asked Bush Growth Fellow Ike Brannon to look into 10 things that would happen if the U.S. economy grew at 4% each year in real terms for 10 years. We will unveil one growth fact each week. To read all previous growth facts, click here. Growth Fact #9 of 10: If the economy grew at 4% per year, developing countries would see stronger growth as well, with increased tourism, imports, and foreign aid from America adding almost an entire percentage point to their annual average growth rates.[i]
[i] Economic growth in the developed world flows outward, so a strong U.S. economy is good for the rest of the world. See Fardoust, Shahrokh & Zhou Jiang-Ping, “Scenarios for Growth in the 1990s,” World Bank Working Paper No. 834, 31 January 1992.
