The adjustment experience of developing economies after 1973 (English)

This paper summarizes the results of the OECD and World Bank studies of external shocks and policy responses to these shocks in developing economies during the 1973-1978 period. External shocks, in the form of the deterioration of the terms of trade and the slowdown of foreign demand for the exports of developing economies, reflected largely the effects of the quadrupling of oil prices and the 1974-75 world recession. Policy responses, in turn, may...
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Citation

Balassa, Bela.

The adjustment experience of developing economies after 1973 (English). World Bank reprint series ; no. REP Washington, D.C. : The World Bank. http://documents.worldbank.org/curated/en/768831467988922240

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