Global economic prospects and the developing countries, 1995
The report`s central message is that the increasing integration of developing countries into the global economy constitutes perhaps the most important opportunity for raising the welfare of both developing and industrial countries over the long term. But the process of integration will not be without frictions that give rise to protectionist pressures. And, as recent events in Mexico have shown, it will increase the complexity of economic management for developing country policymakers. Globalization comes with liberalization, deregulation, and more mobile and potentially volatile cross-border capital flows, which means that sound macroeconomic management commands an increasingly high premium. Penalties for policy errors rise. Globalization thus requires closer monitoring and quicker policy responses at the country, regional, and global levels.
- Research Organization:
- International Bank for Reconstruction and Development, Washington, DC (United States)
- OSTI ID:
- 160986
- Report Number(s):
- PB-96-120100/XAB; ISBN 0-8213-2917-0; TRN: 53382783
- Resource Relation:
- Other Information: DN: See also report for 1994, PB--94-179371; PBD: 1995
- Country of Publication:
- United States
- Language:
- English
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