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Chapter III. The World Economy

General Trends

Published online by Cambridge University Press:  26 March 2020

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Extract

1978 was on the whole a year of convergence in rates of economic growth and inflation both between North America and Western Europe and within Western Europe itself. European growth rates in particular came unusually close together, but European rates of inflation still differed quite widely, with particularly high rates recorded in some of the peripheral countries.

Type
Articles
Information
National Institute Economic Review , Volume 87 , February 1979 , pp. 36 - 56
Copyright
Copyright © 1979 National Institute of Economic and Social Research

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References

Note (1) page 39 OECD Economic Outlook 24, December 1978, pages 14-15.

Note (2) page 39 Op. cit., page 34.

Note (1) page 42 Price comparisons in this section are, unless otherwise indicated, in terms of US dollars, the SDR value of which fell by about 9 per cent between the fourth quarters of 1977 and 1978.