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The World Economic Crisis

A Commonwealth Perspective: Selected Background Papers Prepared for a Commonwealth Group of Experts

image of The World Economic Crisis

The papers included in this volume were prepared to assist the Group of Experts which the Commonwealth Heads of Government, meeting in August 1979, had requested the SecretaryGeneral to assemble in order to “investigate and report on the factors inhibiting structural change and a sustained improvement in economic growth” and to identify specific measures by which developed and developing countries, Commonwealth and nonCommonwealth might act to reduce or eliminate such constraints as a matter of urgency”. The Group consisted of 10 experts who served in their personal capacities and were drawn from a representative range of developed and developing countries. During the first half of 1980 they met three times, and in July 1980 their Report was published by the Commonwealth Secretariat under the title ‘The World Economic Crisis: A Commonwealth Perspective’ (ISBN: 085092183X).

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Economic Growth: The Record and the Prospects

A number of studies are available on the economic performance of both developed and developing countries during the post-war period. The OECD and national agencies (such as the NIESR in Britain) also provide periodic quantitative projections of growth prospects in certain countries. For the longer-term, in addition to the work of Leontief on the “Future of the World Economy” and a number of independent studies (e.g. the work of the Meadows team on “The Limits to Growth”), the OECD recently carried out an elaborate study of the likely growth scenarios in OECD countries on alternative assumptions (commonly referred to as the “Interfutures” Report).

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