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Economic and Social Survey of Asia and the Pacific 1991

Continued Resilience of the ESCAP Region Despite World Economic Slow-Down - Challenges of Macroeconomic Management and Evolving Policy Reforms

image of Economic and Social Survey of Asia and the Pacific 1991

The annual Survey provides an extensive annual review of current economic and social trends within the Asian region and analyzes these developments against the background of events in the world economy. This publication is invaluable to every multinational corporation intending to expand their business in Asia or to invest in the region.

English

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Recent economic performance and policies: The least developed and the island economies

The least developed countries of the Asian and Pacific region generally continued to experience low rates of economic growth during 1990 and 1991. The basic structural weaknesses constraining their growth process were compounded by the Persian Gulf crisis and other adverse trends in the world economy. In addition, the repeated incidence of natural calamities continued to exact their heavy tolls on these otherwise fragüe economies. The Persian Gulf crisis brought adverse effects on the balance of payments as oil import bills rose sharply due to higher prices, remittances from oversea workers declined, and exports were affected by the war related acts in the Persian Gulf region as well as recessionary tendencies in the industrial countries.

English

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