World Economic and Social Survey 2002

Trends and Policies in the World Economy

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Part I. State of the World Economy: In the second half of 2002, the world economy stands at a delicate juncture. After the weakest performance in a decade for the year as a whole, global economic recovery is under way. However, neither the strength, nor the breadth, nor the durability of the recovery is assured. Part II. Private-Public Interaction in Achieving Society’s Goals: examines selected aspects of the changing nature of the interaction between the public and private sectors in producing some of the goods and services that societies as a whole may desire as part of their overall development.




In 2001, the world economy suffered its largest setback in a decade. Almost every country was affected, vividly illustrating—in this instance, negatively—the increasingly powerful links among the world’s economies. The setback wav aggravated by the terrorist attacks of 11 September 2001, which are also likely to have longer-term consequences, not only for international peace and security but also for global development. In the first part of 2002, the world economy struggled to recover, but global economic and political uncertainty remained palpable and potent.


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