Selected policy responses and adjustments to economic disequilibria

Since the mid-1970s, the global economy has been beset by socio-economic imbalances and dislocations unprecedented in the post-war period, and quite different in nature and extent from earlier disturbances. Before the past troubled decade, shocks to the global economy were comparatively mild, usually affected only a limited number of countries, and could be mitigated through various flexibilities built into the international trade and financial framework. Especially during the cyclical downturn of the mid-1970s, these accommodations included ample financial resources from official and private financial institutions, and the opportunity for a number of countries to promote exports. The dislocations of the 1980s have not only been world-wide but also, because of the sharp curtailment of the resources for accommodation, much more severe and pervasive.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action