Trade and Development Report 1995

image of Trade and Development Report 1995

The Trade and Development Report 1995, examines the impact of current international issues on the economies of developing countries. This is accomplished by comparing current economic performance with that of the preceding year and by examining future economic prospects for the world economy as a whole and for the different regions. In doing so, it gives a distinctive view of the working of the world economy and of global macroeconomic management. Along with its analysis it offers policy recommendations.



Convergence of growth, inflation and unemployment in the north

An important characteristic of the economic cycles among the major industrial countries in the early 1990s was their lack of synchronization. Japan continued to expand relatively rapidly throughout 1990-1991, and the spillover of demand from German unification supported growth in continental Europe, but growth in the United Kingdom and the United States decelerated and both countries eventually entered recession. Subsequently, both Japan and Germany experienced a sharp slowdown, while the United States and the United Kingdom embarked on a vigorous recovery.


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