2.1.1 Output & Trade, Table 1 3-4
2.1.2 Unemployment & Inflation, Table 2 5-6
2.1.3 Economic Growth, Table 3 6
2.2 Role of the following organisations in global economy 7-9
2.2.1 International Monetary Fund (IMF) 7-8
2.2.3 World Trade Organisation (WTO) 9
4.0 Bibliography 11-12
This report will focus on two topics. The first outlines the implications of the economic trends during the post-war period. During this part the economic trends will be specified, and several tables and figures will be used to show the statistic facts of that period.
The second topic will analyse the role of the three organisations- International Monetary Fund, World Bank, World Trade Organisation- in the development of the global economy during the post-war period. A historic reference will be done, their objectives will be analysed and finally their actions during this period will be outlined.
In order to measure the economic growth of the global economy in the Post war Period; there are four vital economic trends. These are:
Output is considered as the total number of transactions. The Gross Domestic Product (GDP) measures it. GDP is the value of aggregate or total production of goods, and service, in a country during a given time period. Trade, on the other hand, involves exchange of goods or services among different nations. It is now obvious why output and trade revolve around.
Table 1 shows the geographical structure of world export, 1955-1985.
Source: A.Winters, International Economics, 4th Edition, pg. 71
The above table summarises the country composition of world trade from 1955 to 1985. The most obvious feature is its huge growth. After the Great Depression (1920 and 1930) where the share of output traded was reduced by 40%, it fell further more during the II World War (The openness of trade was again achieved only by 1975). During the 1970s the oil crisis occurs, which results to ...