The world economy [August 1987]

Brian Ashcroft, Stephen Boyle, Paul Draper, Frank Harrigan, John Heeley, Iain Jenkins, Cliff Lockyer, Jim H Love, Peter McGregor, Iain McNicolI, Roger Perman, David Simpson, Jim Stevens, Jim Walker, Brian Ashcroft (Editor)

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Performance in the world economy continues to be governed by the depressing effects of a major currency realignment following the significant depreciation of the US dollar against the Yen and the D-mark since early 1985. In Japan and particularly West Germany, domestic demand is not yet rising at a rate sufficient to compensate for declining foreign demand. The deflationary effects of the currency realignment have therefore tended to offset the anticipated beneficial effects on world economic growth in 1987 of the fall in oil prices in the previous year.
Original languageEnglish
Pages (from-to)3-6
Number of pages4
JournalQuarterly Economic Commentary
Issue number1
Publication statusPublished - 1 Aug 1987


  • Fraser of Allander Institute
  • Scottish economy
  • world economic outlook


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