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Chapter V. The World Economy

Published online by Cambridge University Press:  26 March 2020

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Extract

Economic growth in the industrial countries was less in 1967 than in any year since 1958. Their industrial production rose by only about 2 per cent and their total output by about 3 per cent. The slowing down was most marked in North America and West Germany, but Japan was the only major industrial country to maintain (and indeed improve upon) the previous year's rate of industrial expansion or to achieve a significantly bigger increase in total national output.

Type
Research Article
Information
National Institute Economic Review , Volume 43 , February 1968 , pp. 49 - 67
Copyright
Copyright © 1968 National Institute of Economic and Social Research

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References

note (1) page 51 OECD Economic Outlook, December 1967, pages 12 and 17, where productive investment is defined as ‘enter prise investment excluding residential construction’.

note (1) page 52 McGraw Hill, Department of Economics, The Business Outlook, 1 December 1967.

note (1) page 53 OECD Economic Outlook, December 1967, page 77.

note (1) page 54 OECD Economic Outlook, December 1967, page 47.

note (1) page 64 $250 million of this rise was in the form of issues by the United States government of deutschmark bonds to finance US military expenditures in Germany.

note (2) page 64 See K. Messere, ‘Border Tax Adjustments’, The OECD Observer, No. 36, October 1967.

note (1) page 67 For details see National Institute Economic Review No. 42, November 1967, page 31.