It has been evident for some time that the proportion of the public development aid which is distributed through multilateral channels is increasing. The causes of this process are examined in the following article which is based on the author's doctor thesis.

Many of the present difficulties of the world economy have been blamed on the two oil-price explosions of the 1970s. Professor Chichilnisky shows that, at least in the case of the oil-importing developing countries, the negative effects have been overestimated. In fact, in some respects the oil...