Book Overview

This book, originally published in 1981, discusses the various welfare effects – including ai, debt, trade and labour flows - of the rise in oil prices and revenues which took place in the 1970s. These complex effects and the negotiating stances of the developing countries are all examined and investigated, drawing upon a wide range of sources and material for the more quantitative parts. Throughout, however, the treatment is non-mathematical and is written in clear English accessible not only to bankers and politicians, but also students of economics, international relations and area studies.