Energy Shocks and the World Economy: Adjustment Policies and Problems
Brand: Praeger
Categories: Books, New, Used & Rental Textbooks, Business & Finance



Dimensions: 6.14 x 0.5 x 9.21 inches
Language: English
ISBN-10: 0275931927
Publisher: Praeger
Print length: 209 pages
Publication date: September 25, 1989
ISBN-13: 978-0275931926
Edition: 1st
subtitle: 1st Edition
author: Visit Amazon's Hui Liang Tsai Page search results Hui Liang Tsai
review: Editorial Reviews Review ?This well-written book . . . reports on how economies respond to external shocks by analyzing the adjustment experience of both developed and developing countries to oil-price and other international changes during the '70s and early '80s. It therefore puts recent economic and political events into historical and economic theoretical perspectives, observing the significantly increasing globalization of such phenomena as inflation, stagnation, debt crises, and--particularly--national protectionism. Topics such as flexible market economics, adjustment programs, and recycling of money flows are therefore discussed in some detail, as are differences among countries, especially the US, France, West Germany, and the UK, which, uniquely, became independent of oil imports thanks to North Sea production. The author states the post-1973 oil price jump as amounting to an annual transfer of about 2% of the gross domestic product of the industrialized countries to the oil producers. To avoid such future calamities, he suggests more serious economic coordination among governments, and particularly strenuous efforts of developing countries to restore financial stability. . . . Many statistical tables; good bibliography.?-Choice "This well-written book . . . reports on how economies respond to external shocks by analyzing the adjustment experience of both developed and developing countries to oil-price and other international changes during the '70s and early '80s. It therefore puts recent economic and political events into historical and economic theoretical perspectives, observing the significantly increasing globalization of such phenomena as inflation, stagnation, debt crises, and--particularly--national protectionism. Topics such as flexible market economics, adjustment programs, and recycling of money flows are therefore discussed in some detail, as are differences among countries, especially the US, France, West Germany, and the UK, which, uniquely, became independent of oil imports thanks to North Sea production. The author states the post-1973 oil price jump as amounting to an annual transfer of about 2% of the gross domestic product of the industrialized countries to the oil producers. To avoid such future calamities, he suggests more serious economic coordination among governments, and particularly strenuous efforts of developing countries to restore financial stability. . . . Many statistical tables; good bibliography."-Choice About the Author HUI-LIANG TSAI is Research Associate at the Center for Yugoslav-American Studies, Research, and Exchanges at Florida State University, Tallahassee. He is the author of The Energy Illusion and Economic Stability (Praeger 1989).