It concludes that the three most important determinants of the dollar's swings against the euro (or against the euro's component currencies before 1999) have been relative expected growth rates, bond-yield differentials and net equity portfolio flows.

ECONOMIST: The dollar

The driving-force of current-account balances is relative rates of growth in demand.

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Many factors affect exchange rates, but I learned that the most important factor was relative rates of income growth.

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Stocks could rise or fall, depending on the relative growth rate of profits compared to the increase in interest rates.

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While the two styles share many common principles, growth investing focuses on identifying companies with above-average growth rates, whose share prices today are considered inexpensive relative to their intrinsic value over the long term.

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After years of relative stagnation, Germans in 2006 were giddy over the economy's approaching 3% growth rates.

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