The second of two works resulting from the author's extensive
study of energy and the world economy, this book examines the
international macroeconomic aspects of energy adjustment.
Specifically, the author analyzes the ways in which economies
adjust to external shocks, particularly the oil price shock and
other energy market changes of the 1970s and early 1980s. He seeks
to put the recessions experienced by industrial countries during
the last decade in historical and analytical perspective, arguing
that with the increasing openness of the world economy, the effects
of the domestic policies of the industrial economies are
increasingly relevant to the economic prospects of developing
countries. He argues further that the apparent problems of the
global economy during the post-1973 era--stagnant growth,
inflation, the international debt crisis, and rising
protectionism--are in part the result of a deterioration in the
economic performance of industrial countries.
The author begins by examining the effects of energy supply
disturbances on the world economy. Subsequent chapters explore such
issues as challenges to economic stabilization policy; the impact
of external shocks on the economies of less developed countries,
especially with regard to inflation and balance of payments
problems; the relationship between world payment imbalances and
recycling problems; and the link between energy markets and the
international debt crisis. Finally, the author provides a
theoretical framework for the international adjustment to energy
shocks, focusing on flexible exchange-rate policy responses to
exogenous shocks in the 1970s and the contribution of exchange rate
misalignment to the international debt crisis of the 1980s.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!