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World Economic and Social Survey 1994

Current Trends and Policies in the World Economy

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Authoritative and reliable, the Survey is a detailed assessment of the state of the world’s economic situation. Issued since 1948, its forecasts for the upcoming year and lucid description of national and international economic policies, emerging issues and trends make it ideal for the international businessman or economist.

English

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Technical note. Alternative measures of gross world product and its distribution

Among the most important indicators of global development trends are those relating to the growth of gross world product (GWP) and its distribution among countries and regions. Their central importance lies in the fact that they form the basis on which assessments of recent world economic performance are made, and consequently they affect discussions on the current economic situation and the immediate outlook for economic growth in all countries and regions. In addition to influencing expectations about the likely course of world and national economic activity, these indicators are key inputs into discussions of important macroeconomic problems such as inflation, unemployment and balance-of-payments positions. Estimates of gross world product and its distribution by country, and estimates of per capita income, also underlie the distribution of concessional assistance and the implementation of measures undertaken to promote development in the world’s poorest countries. Finally, these estimates are used to evaluate the probable impact of alternative national and international policy measures on the short-, medium- and longer-term possibilities for world growth and distribution and hence affect the debate about appropriate policies for overcoming present world economic problems and fostering more balanced and equitable world economic development.

English

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