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World Economic Recovery

World Economic Recovery Implications for India By B. Bhattacharyya HERE IS a general feeling that the worst years of stagflation and unemployment are over and that with cautious management of fiscal and monetary policy instruments, the global economy would be able to make a modest start towards recovery. Global Economic Scenario The first glimmers of recovery, of course, could be ascertained in 1982 in certain countries of the West. The OECD countries recorded a growth rate of 2.3 per cent in terms of output in 1983 as against a decline in 1982. The recovery process was led by the USA, whose gross domestic product increased by 3.4 per cent in 1983 against a negative growth rate of 1.9 per cent in 1982. Other principal developed countries, which also recorded positive growth rates, were the UK, FR Germany, Canada and Japan. In contrast, developing countries as a group registered a decline of more than one per cent in 1983. By sub-groups, the decline was more pronounced in Latin America and the OPEC countries, which recorded a decline of three per cent, basically due to the fall in the crude oil prices. Most of the African countries also fared badly due to poor performance http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Foreign Trade Review SAGE

World Economic Recovery

Foreign Trade Review , Volume 20 (1): 6 – Apr 1, 1985

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Publisher
SAGE
Copyright
© 1985 SAGE Publications
ISSN
0015-7325
eISSN
0971-7625
DOI
10.1177/0015732515850111
Publisher site
See Article on Publisher Site

Abstract

Implications for India By B. Bhattacharyya HERE IS a general feeling that the worst years of stagflation and unemployment are over and that with cautious management of fiscal and monetary policy instruments, the global economy would be able to make a modest start towards recovery. Global Economic Scenario The first glimmers of recovery, of course, could be ascertained in 1982 in certain countries of the West. The OECD countries recorded a growth rate of 2.3 per cent in terms of output in 1983 as against a decline in 1982. The recovery process was led by the USA, whose gross domestic product increased by 3.4 per cent in 1983 against a negative growth rate of 1.9 per cent in 1982. Other principal developed countries, which also recorded positive growth rates, were the UK, FR Germany, Canada and Japan. In contrast, developing countries as a group registered a decline of more than one per cent in 1983. By sub-groups, the decline was more pronounced in Latin America and the OPEC countries, which recorded a decline of three per cent, basically due to the fall in the crude oil prices. Most of the African countries also fared badly due to poor performance

Journal

Foreign Trade ReviewSAGE

Published: Apr 1, 1985

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