1945

Developments in the world economy and their impact on the ESCAP region

After the bleak performance of the world economy in 1985, the conjunction of three major developments — the fall in the value of the dollar, the price of oil and interest rates — gave rise to hopes for a much more vigorous growth in 1986. However, by the end of 1986 these hopes failed to materialize as full advantage could not be taken of the opportunities presented by the new developments. In the meanwhile, the international economic environment has become clouded by increasing uncertainties, making it unlikely that these developments may exercise a favourable lagged effect on the growth in the world economy in 1987.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
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