Chapter III. The World Economy

Anonymous

National Institute Economic Review, 1981, vol. 95, 46-68

Abstract: We said last February that 1980 would be a year of slow growth, rapid inflation and massive balance of payments deficit for most of the developed world. OECD countries' industrial production, which actually showed a marginal fall, was even lower than we expected. But their aggregate GDP growth of around 1¼ per cent seems to have been almost exactly in line with our prediction, as does their current balance of payments deficit of a little over $70 billion, while the rise of 13 per cent in their consumer prices was slightly greater than we forecast. The rise in the average price of oil ('of the order of at least 60 per cent' in our forecasts, 68 per cent in actuality) played a major part in these developments.

Date: 1981
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:95:y:1981:i::p:46-68_4

Access Statistics for this article

More articles in National Institute Economic Review from National Institute of Economic and Social Research Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Contact information at EDIRC.
Bibliographic data for series maintained by Kirk Stebbing ().