The end of the Golden Age, the debt crisis and development setback
- Author: United Nations
- Main Title: World Economic and Social Survey 2017 , pp 49-72
- Publication Date: July 2017
- DOI: https://doi.org/10.18356/fc354ffb-en
- Language: English
The decade of the 1970s began with unexpected global economic turmoil after a long stretch of economic stability and robust growth in the earlier post-war period. It also witnessed the breakdown of the post-Second World War consensus on the global economic governance architecture, as embodied in the Bretton Woods system of fixed exchange rates and gold convertibility of the United States dollar. In addition, there were two oil price shocks and the persistence of high inflation and unemployment—referred to as stagflation—in several developed countries.
© United Nations
ISBN (PDF):
9789210605984
Book DOI:
https://doi.org/10.18356/8310f38c-en
Related Subject(s):
Economic and Social Development
Sustainable Development Goals:
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