Oil and the International Economy: Lessons from Two Price Shocks - Softcover

Georg Koopmann; Klaus Matthies; Beate Reszat

Softcover

ISBN 10: 0887386164 ISBN 13: 9780887386169

Publisher: Routledge, 1987

Synopsis

The oil price increases of the 1970s left deep marks on the world economy. They led to a massive redistribution of income in favor of oil-producing countries, and caused serious disruption of growth, imbalances in foreign trade, and problems of stability in oil-importing countries. Despite the present levelling off, the authors suggest that more price increases remain a distinct possibility.Oil and the International Economy examines the effects of rising oil prices on the international financial system and identifies ways that oil-importing countries can overcome the financial and adjustment problems caused by them. The authors project the long-term trend in real oil prices and present economic policy options to help avoid future financial problems for industrialized and developing nations alike.Contents: The World Oil Market after the Oil Price Shocks; Future Trends in the Demand for Oil; Future Trends in the Supply of Oil; Balance-of-Payments and Exchange-Rate Adjustment: Current Account Developments in Times of Rising Oil Prices and Effects on Exchange Rates; The Effects of Real Oil Price Increases on Energy and Raw Material Prices; Repercussions on the General Price Level; Implications for the German Monetary and Exchange Rate Policy; Are Real Oil Price Increases a Brake on Growth?; Options for Economic Policy; The Struggle for Markets in the Oil-Producing Countries; The Oil-Producing Countries as Competitors in the Manufacturing Sector; Consequences for Trade Between Oil-Importing Countries.

About this title

Review:

"In this well-written and illustrated book, members of a German research organization explore the lessons learned from the huge oil-price increases of 1973-74 and 1979-81 and apply these lessons to expected, if more moderate, future raises... The work ably summarizes reports and ideas presented in specialized periodicals and deals particularly with West German experiences... Good statistical tables illustrate the arguments. University-level collections."

--A. Melamid, Choice

"In this well-written and illustrated book, members of a German research organization explore the lessons learned from the huge oil-price increases of 1973-74 and 1979-81 and apply these lessons to expected, if more moderate, future raises... The work ably summarizes reports and ideas presented in specialized periodicals and deals particularly with West German experiences... Good statistical tables illustrate the arguments. University-level collections."

--A. Melamid, Choice

-In this well-written and illustrated book, members of a German research organization explore the lessons learned from the huge oil-price increases of 1973-74 and 1979-81 and apply these lessons to expected, if more moderate, future raises... The work ably summarizes reports and ideas presented in specialized periodicals and deals particularly with West German experiences... Good statistical tables illustrate the arguments. University-level collections.-

--A. Melamid, Choice

About this edition

• Publisher: Routledge
• Publication date: 1987
• ISBN 10: 0887386164
• ISBN 13: 9780887386169
• Binding: Paperback
• Edition number: 1
• Number of pages: 431