Economics

How Does Consumption Affect GDP?

Consumption-led expansions contribute more to aggregate GDP growth than non-consumption-led expansions, as expected: on average 1.6 percentage points vs 1 percentage point for non-consumption-led expansions (Graph 4, left-hand panel). Is consumption bad for the economy? Consumer expenditure accounts for a considerable portion of GDP in the United States. As a result, it is one of […]

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Is Nigeria In A Recession?

ABUJA, 15 JUNE 2021 Nigeria’s economy contracted by 1.8 percent in 2020, the most since 1983. The economic recession was triggered by the COVID-19 crisis; the external environment was characterized by capital withdrawals, increased risk aversion, low oil prices, and falling foreign remittances. Nigeria’s Current Situation According to Resilience through Reforms, the Nigerian government’s reforms […]

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Why Is Liechtenstein GDP So High?

From Agricultural Roots to an Export-Oriented Manufacturing Sector and a Financial Center in Economic History For centuries, Liechtenstein was a small, isolated country whose economy was based on its small agricultural sector and limited textile manufacture. Following WWII, however, Liechtenstein transformed itself from a largely agricultural state to a highly developed, export-oriented industrial nation with […]

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