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Oil and the International Economy, EPUB eBook

Oil and the International Economy EPUB

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The oil price increases of the 1970s left deep marks on the world economy.

They led to a massive redistribution of income in favor of oil-producing countries, and caused serious disruption of growth, imbalances in foreign trade, and problems of stability in oil-importing countries.

Despite the present levelling off, the authors suggest that more price increases remain a distinct possibility.Oil and the International Economy examines the effects of rising oil prices on the international financial system and identifies ways that oil-importing countries can overcome the financial and adjustment problems caused by them.

The authors project the long-term trend in real oil prices and present economic policy options to help avoid future financial problems for industrialized and developing nations alike.

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