This book, originally published in 1981, discusses the various welfare effects – including ai, debt, trade and labour flows - of the rise in oil prices and revenues which took place in the 1970s. These complex effects and the negotiating stances of the developing countries are all examined an dinvestigated, drawing upon a wide range of sources and material for the more quantitative parts. Throughout, however, the treatment is non-mathematical and is written in clear English accessible not only to bankers and polititians, but also students of economics, international relationjs and area studies.
1. Economic Divergences Between Developing Countries 2. The Changing World Economic Climate 3. The Organisation of Petroleum Exporting Countries 4. Energy and the NOPEC’s Terms of Trade 5. OPEC and Debt in the Developing World 6. OPEC Aid 7. The Growth of Trade Between OPEC and the Developing Countries 8. Labour, Migration and Remittances 9. Interrupted Growth Patterns? 10. Oil, Debt and Development: An Assessment