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World Economic Survey 1991

Current Trends and Policies in the World Economy

image of World Economic Survey 1991

1990 was an extraordinary years of shocks and contrasts for the world economy: the Gulf conflict, a sharp increase in energy prices, and a sudden erosion of consumer and business confidence in much of the world. Some developed economies went into recession and others nearly did. Many developing economies continued to languish under the burden of problem that persisted over most of the last decade.

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International finance and net resource transfers

International financial relationships in much of the 1990s are likely to be affected at the global level by two recent sets of events, both of them in Europe and both the focus of this chapter, along with developments in the financing and international resource transfers of developing countries.

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