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Oil exporting developing countries macroeconomic policies and adjustment issues (Английский)

The oil price rises in 1974 and 1979 brought large windfall gains in income and foreign exchange to the oil exporting developing countries (OEDCs). This paper briefly outlines the major policy issues that have confronted these countries in translating these increased revenues into tangible increases in the welfare of their citizens or into sustainable paths of development. It is designed as an outline of the sorts of considerations that need to be...
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