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Krueger

Debt, Policy Reform and Poverty Alleviation in Developing Countries

by Anne O. Krueger, Clemens Lecture Series 2, 1988

Introduction

The 1980s have been an economically turbulent period for the entire world. For the developed countries, the decade started with high inflation and the onset of a worldwide recession, itself induced in large part by the second oil price increase of 1979. The anti-inflationary program of most developed countries resulted in a prolonged worldwide recession, which was accompanied by relatively slow growth of international trade and the lowest real prices of primary commodities (excluding oil) that had been realized since the Second World War.

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