Change for the Better

Global Change and Economic Development

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Change for the Better explores global political and economic change and its impact on the development process, together with ways to improve development policies – domestic and international.

This Report by a Commonwealth Group of Experts points to the danger of further increase in the existing disparities, if action is not taken urgently by the developed and developing countries as well as the world community as a whole. It points to the mutuality of interest which makes action a necessity; and to the opportunities presented by change. But it stipulates that effective action will only be possible if there is ready acceptance that the challenge of development cannot be ignored; and that current piecemeal efforts are not the answer. International understanding and cooperation will be a critical requirement.




By the end of the 1980s a perverse situation had developed in international financial flows. The developing countries were receiving significantly smaller amounts of external finance than at the beginning of the decade and were in fact making large financial transfers abroad, while the United States and some other industrial countries were absorbing large amounts of capital from abroad. For much of the developing world the reduction of financial flows occurred at a time of increasing import stringency—that is, at the very time when more finance was required.


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