Economic and Social Survey of Asia and the Far East 1957

image of Economic and Social Survey of Asia and the Far East 1957

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



Export instability in the primary exporting countries: (1). The balance of payments

In contrast with the major industrial private-enterprise countries, where economic instability has been a growth phenomenon associated chiefly with fluctuations in domestic investment, the economic instability of the primary producing countries of the region has been, and still is, largely the result of external circumstances operating by way of trade, particularly their export trade. In most of these countries, exports represent a considerable share of gross domestic or national product—substantially more than government expenditure and much more than private investment—and in all of them export earnings are derived from a limited range of primary commodities. These basic features render their economies vulnerable to any substantial change in the world import demand for their major exports, and in that way handicap them in their efforts at orderly economic development.


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