The world economy: trade, growth and international institutions

“ When your neighbour loses his job, it’s a slowdown; when you lose your job, it’s a recession; when an economist loses his job, it’s a depression.”


“ Economic forecasting is like trying to drive a car blindfolded and following directions given by a person who is looking out of the back window.”


  • Economic globalisation is having increasingly important effects on national economies, on local financial markets and on individual companies. In making business and investment decisions, it is no longer advisable simply to take account of the domestic economy, either with regard to particular markets or at the aggregate level.
  • The International Monetary Fund oversees the ...

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