Problems and policies of development

Previous chapters have stressed the violent fluctuations in exports and incomes arising from the Korean war boom and discussion will now concentrate on their effects on the underlying process of economic growth. Although sufficient data are not avilable for a full appraisal of the impact of the cycle, it is apparent that the foreign exchange earnings and resources of many countries of the region are approximately at the level they had reached before the war started, the gains of the boom being used up in the decline. But the process of adjusting consumption to lower income levels and the reorientation of policies towards development have created a different set of circumstances in which the problems o f economic growth show up in a new light.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities