World Economic Survey 1956

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World Economic Survey 1956 is devoted to a study of balance of payments problems during the post-war period. It reviews the worldwide balance-of-payments experience since the war, the changes in the network of international balances and the pattern of international settlements. Furthermore, the post-war forces shaping the balance of payments of the primary producing countries are studied. The Survey also analyses recent events in the world economy, giving special attention to the factors underlying economic expansion in 1956 and the role of policy in promoting stability and growth. Finally, it provides an economic outlook for 1957.



Recent trends in primary exporting countries

The main stream of foreign trade of the primary exporting countries connects them with the industrial countries to a much greater extent than with one another. In this respect, the flow of their trade differs markedly From that of the industrial group, within which intra-trade is much more important. A corollary to this is the fact that in the primary exporting countries import capacity—and hence, in part, standards of living and, more significant cor economic growth, the rate of fixed capital formation—is governed in large measure by the demand for primary commodities in the industrial countries.


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