World inflation, the developing countries, and “an integrated programme for commodities”
Keywords:World inflation, developing countries, economic growth, international monetary system
The paper looks at world inflation, the problems it poses for developing countries and what they can do to facilitate a return to conditions of stable world economic growth. The author first reviews the concept of world inflation and its evolution, noting that it was well under way before the collapse of the international monetary system in 1973. The issues facing developing countries are then dealt with, and in particular the special problems that have resulted from world inflation. Finally, the New International Economic Order and the “Integrated Programme for Commodities” are analysed.
JEL: E31, E42