This paper examines the World Economic Outlook forecasting record for the principal performance indicators for the major industrial countries and corresponding aggregates and for groups of non-oil developing countries. Several criteria were used in evaluating the forecasts: the computation and...

This paper discusses commodity prices might serve as a useful leading indicator of inflation, based on the relative importance of flexible auction markets for the determination of these prices. They thus may have a tendency to respond relatively quickly, especially in response to monetary...

This paper describes the functioning of labor markets and to eliminate other structural obstacles to noninflationary growth. The decline in the price level in the home country will involve a rise in the real money supply and, if output is sluggish, this will result in an excess supply of money....

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists' analyses of global economic developments during the near and medium term. Chapters give an overview of the world economy; consider issues affecting industrial countries,...

Recent indicators suggest that activity in the world economy is strengthening more rapidly than projected by the staff six months ago. This is especially true of the United States, but the staff has also revised upward its growth projections for most other industrial countries-in the case of...

This paper presents an outlook for the world economy for 1997–98. With world output expected to expand by some 41⁄4 percent in both 1997 and 1998, the strongest pace in a decade, the global economy is enjoying the fourth episode of relatively rapid growth since the early 1970s. The expansion...

This paper presents the annual survey of international capital market developments and prospects. It reviews trends in the main market segments and seeks to analyze the principal forces underlying these developments, in particular the progressive integration of markets and the related...

This chapter provides various IMF staff's concluding remarks of completion of Article IV Consultation with different countries. The IMF holds bilateral consultations under Article IV of its Articles of Agreement with all its member countries, in most cases every year. As part of these...

This paper discusses systematic issues in international finance explained in the International Capital Markets report. The paper describes that the nature and extent of recent banking problems in several industrial countries along with the policy responses to those problems. It is observed that...

This paper reviews major issues and developments in the trade area and outlines the challenges governments face as they seek to liberalize trade in the Uruguay Round of trade negotiations and address new trade issues. In industrial countries, the reorientation of policies was most apparent in...