Trade and Development Report 1998

Note......Page 4
FOREWORD......Page 5
Contents......Page 7
List of text tables......Page 11
List of charts......Page 13
List of boxes......Page 14
Explanatory notes......Page 15
Abbreviations......Page 16
OVERVIEW......Page 19
International financial instability and the world economy......Page 20
The management and prevention of financial crises......Page 24
African development in a comparative perspective......Page 29
Part One  INTERNATIONAL FINANCIAL INSTABILITY AND THE WORLD ECONOMY......Page 35
A.  Global trends......Page 37
B.  Regional economic performance and short-term prospects......Page 42
C.  Prospects for recovery and uncertainties......Page 57
A.  The significance of Asian trade......Page 61
B.  Impact on regional trade......Page 65
C.  Trade effects outside the Asian region......Page 67
D.  Competitiveness effects of the currency depreciations......Page 69
E.  Impact on markets for primary commodities......Page 73
F.  Conclusions......Page 79
Notes......Page 80
Annex to chapter II IMPACT OF THE ASIAN CRISIS ON SPECIFIC COMMODITIES......Page 83
A.  Introduction......Page 87
B.  Anatomy of the crises in the post-Bretton Woods period......Page 88
C.  Financial fragility and crisis in East Asia......Page 93
D.  The policy response......Page 103
E.  Social consequences of the crisis......Page 106
F.  Conclusions:  The crisis and the Asian development .model.......Page 109
Notes......Page 111
I.  The Southern Cone experience......Page 113
II.  The United States banking and real estate crisis and debt deflation......Page 114
III.  The EMS currency crisis......Page 115
Notes......Page 116
A.  Introduction......Page 117
B.  Managing and resolving financial crises......Page 118
C.  Prevention of financial crises......Page 127
Notes......Page 141
Part Two  AFRICAN DEVELOPMENT IN A COMPARATIVE PERSPECTIVE......Page 145
Introduction......Page 147
A.  Post-independence take-off......Page 149
B.  Faltering growth in the 1970s......Page 152
C.  The crisis of the 1980s and thereafter......Page 155
D.  Adjustment, recovery and prospects......Page 158
E.  Improving the prospects: The role of debt relief......Page 161
Notes......Page 165
A.  Introduction......Page 167
B.  The role of agriculture in economic growth......Page 168
C.  Main features of African agriculture......Page 172
D.  Trends in agricultural production, trade and productivity......Page 177
Notes......Page 185
A.  Introduction......Page 189
B.  Agricultural prices......Page 190
C.  Agricultural supply behaviour: Sources and constraints......Page 200
D.  Adjustment policies and agricultural performance......Page 207
E.  Conclusions......Page 209
Notes......Page 210
A.  Introduction......Page 215
B.  Main features of African trade......Page 216
C.  Accumulation and export growth......Page 223
D.  Industry and competitiveness......Page 229
E.  The markets for African exports......Page 235
Notes......Page 241
A.  Introduction......Page 245
B.  Policy options......Page 246
C.  Constraints of the new trading regime......Page 254
D.  The institutional hiatus and reform......Page 255
Notes......Page 258
Selected UNCTAD Publications......Page 261