By M. Panić (auth.)
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Additional info for National Management of the International Economy
Sample text
A. a. a. a. a. a. 3 Sources: OECD, National Accounts of OECD Countries; UN, Yearbooks of National Accounts Statistics; and IMF, International Financial Statistics. What emerges clearly from the table is that, after a somewhat varied experience between 1955 and 1964, the proportion of trade in total output has increased substantially since the mid-1960s in all the groups. There are, in fact, only three countries whose trade ratios were lower in 1979 than in 1964; and only seven out of the forty-five countries experienced a decline in the ratios between 1973 and 1979.
6 show, considerable changes have also taken place since the end of the 1960s in the pattern of international capital flows. The importance of these changes for the long-term viability of internationally integrated economic relationships will be analysed later in this book. For the moment, it is enough to observe the most relevant aspects of the changes revealed by the indicator of international financial integration adopted here. The general decline in the importance of official flows between 1958-60 and 1979-81 is one of the most noticeable changes.
A. a. a. a. a. a. a. a. a. a. a. a. a. 25 ...... j::. 42 International Economic Integration external deficits threatened to increase significantly the cost of internal adjustments. 6 show, considerable changes have also taken place since the end of the 1960s in the pattern of international capital flows. The importance of these changes for the long-term viability of internationally integrated economic relationships will be analysed later in this book. For the moment, it is enough to observe the most relevant aspects of the changes revealed by the indicator of international financial integration adopted here.
