Trade and Development Report 1995

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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.



The labour market, capital formation and job creation

As already noted, according to the trade and technology explanations of unemployment, import penetration and technological change have led to persistently rising structural unemployment through the workings of the labour market. The trade and technology explanations thus link up with earlier "stagflation" theories of the 1970s, based on the concept of a "natural" rate of unemployment, which hold that inflexible labour markets themselves are the source of unemployment.


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