Economic Paper

English
ISSN: 
2310-1385 (online)
http://dx.doi.org/10.14217/23101385
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This series examines current economic issues from a Commonwealth perspective. The titles in the series are technical papers of topical interest to specialists concerned with trade, micro and macroeconomics, development economics and related subjects.
 
The World Economic Crisis

The World Economic Crisis

A Commonwealth Perspective: Selected Background Papers Prepared for a Commonwealth Group of Experts You do not have access to this content

English
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Author(s):
Commonwealth Secretariat
01 Sep 1980
Pages:
216
ISBN:
9781848593107 (PDF)
http://dx.doi.org/10.14217/9781848593107-en

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The papers included in this volume were prepared to assist the Group of Experts which the Commonwealth Heads of Government, meeting in August 1979, had requested the SecretaryGeneral to assemble in order to “investigate and report on the factors inhibiting structural change and a sustained improvement in economic growth” and to identify specific measures by which developed and developing countries, Commonwealth and nonCommonwealth might act to reduce or eliminate such constraints as a matter of urgency”. The Group consisted of 10 experts who served in their personal capacities and were drawn from a representative range of developed and developing countries. During the first half of 1980 they met three times, and in July 1980 their Report was published by the Commonwealth Secretariat under the title ‘The World Economic Crisis: A Commonwealth Perspective’ (ISBN: 085092183X).

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  • Preface

    The papers included within this volume were prepared to assist the Group of Experts which Commonwealth Heads of Government, meeting in August 1979, had requested the Secretary-General to assemble in order “to investigate and report on the factors inhibiting structural change and a sustained improvement in economic growth” and to “identify specific measures by which developed and developing countries, Commonwealth and non-Commonwealth, might act to reduce or eliminate such constraints as a matter of urgency”. The Group consisted of ten experts who served in their personal capacities and were drawn from a representative range of developed and developing countries. During the first half of 1980 they met three times, and in July 1980 their Report was published by the Commonwealth Secretariat under the title “The World Economic Crisis : A Commonwealth Perspective”.

  • Economic Growth: The Record and the Prospects

    A number of studies are available on the economic performance of both developed and developing countries during the post-war period. The OECD and national agencies (such as the NIESR in Britain) also provide periodic quantitative projections of growth prospects in certain countries. For the longer-term, in addition to the work of Leontief on the “Future of the World Economy” and a number of independent studies (e.g. the work of the Meadows team on “The Limits to Growth”), the OECD recently carried out an elaborate study of the likely growth scenarios in OECD countries on alternative assumptions (commonly referred to as the “Interfutures” Report).

  • The Least Developed Countries: Economic Trends and Prospects

    The creation of a category of ‘least developed countries’ (LLDCs) among the developing countries in November 1971 was the first formal recognition that terms such as ‘developing countries’ and ‘the Third World’ were general expressions for countries with widely different circumstances and needs. At present, thirty-one countries, with 257 million people or 12.5 per cent of the population of all the developing countries, are included in the United Nations list of LLDCs.

  • The IMF's Role in the Balance of Payments Problems of Non-Oil Developing Countries

    The IMF's response to developments in the balance of payments of ‘non-oil developing countries’(l) after 1973-74 has been largely ad hoc in nature. Temporary ‘oil facilities’ were established in 1974 and 1975 under which the Fund borrowed and recycled some SDR 6.9 billion(2). An Extended Fund Facility (EFF) was also created in 1974 to assist countries to overcome structural balance of payments maladjustments and at the end of 1975 the Compensatory Financing Facility (CFF) was liberalised.

  • Protectionism and Adjustment Policies in the OECD

    Before 1973 there was an almost uninterrupted trend towards greater liberalisation of international trade, following the various rounds of GATT negotiations which led to a systematic reduction in the use of quantitative controls and tariffs to restrict trade flows. Deteriorating economic conditions in most Western countries since then have, however, led to increasing pressures to introduce selective import restrictions, in order to safeguard jobs and profits in particular industries (over and above the restrictions which have long applied to agricultural trade). Under existing GATT arrangements Article XIX provides the only basis for official trade restrictions.

  • Industrial Adjustment Policies

    Protectionism is on the increase. The persistent recession and rising unemployment are the main reasons for the political pressures in industrialised countries Which have encouraged protectionist policies. It is still widely accepted in official circles in these countries that the current problems facing the industrialised countries cannot be solved by protectionist ‘beggar my neighbour’ policies and that a resumption of reasonable levels of growth would depend on the continuation of the underlying post-war trend towards more liberal trading policies and a more open international trading system.

  • Notes on Some Projections of Energy Supply and Demand

    A great many studies involving projections of global energy supply and demand have been made since the oil crisis of 1973-1974. These notes summarize the conclusions of three of the most comprehensive and authoritative long-term projection studies (those of the World Energy Conference (WEC) 1977, the Workshop on Alternative Energy Strategies (WAES) 1977, and the OECD Interfutures project, 1979) and comment briefly on several of the other ones.

  • Energy Conservation in OECD Countries

    This note relates to some aspects of energy conservation in OECD countries. First it appraises the recent experience of conservation by way of analysing changes in the ratio of energy consumed to output produced and income generated in these countries. It then details some of the OECD country government policies and other measures encouraging energy conservation and comments on their probable effectiveness.

  • Enhancing Supplies of Energy Available to Energy Net-Importing Developing Countries

    This note sets out some of the principal factors relevant to increasing the supplies of energy available to the energy net-importing developing countries (OIDCs)(1). The note first provides information on some aspects of energy consumption in developing countries. Its second section is concerned with the energy resources potential of OIDCs.

  • Some Current Issues in Commodities, Food and Agriculture

    Commodities are responsible for a large proportion of the exports of developing countries - about 60 per cent if oil is excluded. In terms of production, primary products loom larger since a higher proportion of locally consumed food in these countries is domestically produced. Although the exports and production of manufactured goods are increasing faster than those of commodities, the much larger primary products sector in developing countries - whether through its expansion or other improvement - clearly has a large role to play in economic development.

  • Disarmament and Development: The Main Issues

    The link between disarmament and development is not just a pious hope that resources released by disarmament will be made available for development. Rather, it is to be found in the need to reverse the deeply rooted connection between armaments and poverty. Not only do armaments absorb resources but they also uphold a global power structure which is in itself an obstacle to the defeat of poverty.

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