The dramatic changes presently taking place in the world economic environment involve considerable risks, but at the same time offer significant opportunities which should not be ignored. Some of the major challenges the world economy is facing in the 1990s are discussed in the following article.

The international coordination of environmental protection is particularly difficult with regard to developing countries. How can the industrialized countries be persuaded that financial compensation to the developing countries is economically justified? How can external support for the...

Analysts broadly agree on the causes of recent crises in East Asia. Nevertheless, deep controversy exists on appropriate therapy. Especially the International Monetary Fund is under attack. The way of dealing with financial turbulence may have important repercussions on countries within and...

The role of state-owned enterprises in the development process in the Third World is the subject of serious controversy. This article attempts to test empirically whether there is a relationship between the importance of public production in developing countries and their overall economic...