At head of title, 1994 - :Department of Economic and Social Information and Policy Analysis

The World Economy in 1998 -- A surging world economy faces a slowdown -- Global incidence of economic growth -- Global success against inflation -- Pace and spread of growth in developing countries -- Towards a response to international financial volatility -- Macroeconomic policy in a financially integrated world -- Exchange-rate strategies for "emerging market" economies -- Financial-sector strategies for a volatile world -- Contribution of international financial cooperation -- The Current Situation in the World's Economies -- The developed economies -- Economic growth in 1997 and 1998 -- North America: strength in growth -- Western Europe: growth and the jobs problem -- Asia and the Pacific: three divergent economies -- Macroeconomic policy stances -- The transition economies -- Fragile expansion in the European member countries of the Commonwealth of Independent States -- The Central Asian and Caucasian republics: vulnerability of commodity-focused growth -- Central Europe and the Baltic States: consolidating the momentum -- The developing countries -- Africa: growing, but too slowly -- Vulnerabilities exposed in 1997 -- Scattered dynamism -- Inflation and policy reform -- Uncontrollable factors in the outlook -- Asia and the Pacific -- East Asia: fallout of a financial crisis -- China: deepening reforms while weathering a regional crisis -- South Asia: where stronger growth is attainable -- Western Asia: oil price slide causes economic reversal -- Latin America and the Caribbean: Asian contagion -- Sources and constraints on dynamism in 1997 -- External conditions worsen by year-end -- Quick and effective policy response -- 1998 economic outlook -- The International Economy -- Strength and weakness in international trade -- The dynamics of world trade in 1997 and 1998 -- International petroleum market -- Non-oil commodity prices weaken -- Preferential trade and trading arrangements -- International finance and the net transfer of resources -- International transfer of financial resources -- Aspects of international financing for development -- Foreign direct investment -- Multilateral financial cooperation -- Official relief for heavily indebted poor countries -- International aspects of the introduction of the euro -- The new European economy -- A new international money -- Unit of account -- Means of exchange -- Store of value: the euro as an official reserve asset -- Store of value: private demand for euro assets -- Exchange-rate volatility? -- International monetary coordination -- The global shock from the Asian currency crisis -- The crisis in Asian "emerging economies": the problem, the medicine, the controversy -- The Thai adjustment programme -- Contagion and controversy -- Financial market views of the crisis: missed perceptions and market failures -- Financial policy advice from market professionals -- Conclusion: a time for humility and debate -- Postscript on the deteriorating economic outlook -- Trade and the devaluation question in China -- The CFA france zone in 1999: a new peg but not a new regime -- Growth of world output, 1981-1998 -- Number of developing countries with GDP per capita growth of 3 per cent or more, 1991-1998 -- Major industrialized countries: quarterly indicators, 1996-1997 -- Foreign direct investment in the transition economies, 1989-1997 -- Developing countries: rates of growth of GDP, 1991-1998 -- Selected macroeconomic indicators for Indonesis, The Republic of Korea, Malaysia, the Philippines and Thailand, 1996-1998 -- Net transfer of financial resources of groups of developing countries, 1987-1997 -- Economic convergence in the European Union, 1997 versus 1988 -- Consumer confidence in seven major economies, 1990-1997 -- Real effective exchange rates of selected Asian countries, June 1997-April 1998 -- Real short-term interest rates in selected Latin American countries, September 1997-April 1998 -- Contributions to the growth of world trade volumes, 1997 and 1998 -- Average spot prices of OPEC basket of crude oils, January 1996-March 1998 -- Dollar indices of non-fuel commodity prices, 1993-1998 -- International market lending, 1981-1997 -- Implementation of the Heavily Indebted Poor Countries Debt Initiative.

Keep up to date with authoritative and reliable information and data on the state of the world's economic and social situation, including developed, developing, and transition economies.

Contains data on output, inflation, employment, macro-economic policies and developments, international trade and finance, and statistical tables. Includes analyses of European Union agreements, the Asian currency crisis, major trends in international trade and financial flows.