New Directions in the World Economy

An attempt to assist policy-makers in developing countries to cope with the challenges they face during the rest of the century and beyond. For this purpose it provides information on the experience of developing, developed and socialist countries.

Part 1 Development strategies and international trade in developing countries: the importance of trade for developing countries; policy responses to exogenous shocks in developing countries - the classification scheme applied, external shocks and policy responses to these shocks in 1973-78 and 1978-83; the interaction of factor and product market distortions in developing countries. Part 2 Policy choices and external constraints in developing countries: the Cambridge Group and the developing countries - CEPG policy prescriptions for developing countries, the policy experience of Mexico and Tanzania; "dependency" and trade orientation; the adding up problem. Part 3 Agriculture and economic development: economic incentives and agricultural exports in developing countries - incentives and export performance - country experiences in the period 1960-73, 1973-78 and 1978-81; incentive policies and agricultural performance in sub-Saharan Africa - agricultural policies and performance in Tanzania, Kenya, Ghana and the Ivory Coast; agricultural policies and international resource allocation - the Common Agricultural Policy and levels of self-sufficiency in the EEC. Part 4 Public enterprise and policies in a developing country - Mexico: public enterprise in developing countries - issues of privatization; economic prospects and policies in Mexico - the policies applied in periods of external shocks 1973-83; Mexico's debt problem and policies for the future. Part 5 Reform efforts in socialist countries: the "new growth path" in Hungary; next steps in the Hungarian economic reform; China's economic reforms in a comparative perspective. Part 6 Economic policies in France: five years of socialist economic policy in France - a balance sheet; industrial policy in France under the socialist government - the declining sectors - coal, steel and shipbuilding, an export industry - automobiles, a high technology industry - electronics; French economic policy after March 1986. Part 7 Tradepolicies and multilateral negotiations: the extent and the cost of protection in developed-developing country trade; liberalizing trade between developed and developing countries; Japanese trade policies towards developing countries - the extent of Japanese imports from developing countries 1973, changes in Japanese imports from the developing countries 1973-83.