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About this product
- DescriptionThe second of two works resulting from the author's extensive study of energy and the world ecomy, this book examines the international macroecomic aspects of energy adjustment. Specifically, the author analyzes the ways in which ecomies adjust to external shocks, particularly the oil price shock and other energy market changes of the 1970s and early 1980s. He seeks to put the recessions experienced by industrial countries during the last decade in historical and analytical perspective, arguing that with the increasing openness of the world ecomy, the effects of the domestic policies of the industrial ecomies are increasingly relevant to the ecomic prospects of developing countries. He argues further that the apparent problems of the global ecomy during the post-1973 era--stagnant growth, inflation, the international debt crisis, and rising protectionism--are in part the result of a deterioration in the ecomic performance of industrial countries. The author begins by examining the effects of energy supply disturbances on the world ecomy. Subsequent chapters explore such issues as challenges to ecomic stabilization policy; the impact of external shocks on the ecomies of less developed countries, especially with regard to inflation and balance of payments problems; the relationship between world payment imbalances and recycling problems; and the link between energy markets and the international debt crisis. Finally, the author provides a theoretical framework for the international adjustment to energy shocks, focusing on flexible exchange-rate policy responses to exogeus shocks in the 1970s and the contribution of exchange rate misalignment to the international debt crisis of the 1980s.
- Author BiographyHUI-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).
- Author(s)Hui Liang Tsai
- Date of Publication25/09/1989
- SubjectEconomics: Professional & General
- Place of PublicationWestport
- Country of PublicationUnited States
- ImprintPraeger Publishers Inc
- Content Noteblack & white illustrations
- Weight478 g
- Width156 mm
- Height234 mm
- Spine12 mm
- Format DetailsLaminated cover
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