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.

chapter 2|14 pages

The Changing World Economic Climate

chapter 4|18 pages

Energy and the NOPECs’ Terms of Trade

chapter 5|20 pages

OPEC and Debt in the Developing World

chapter 6|36 pages


chapter 8|15 pages

Labour, Migration and Remittances

chapter 9|15 pages

Interrupted Growth Patterns?

chapter 10|15 pages

Oil, Debt and Development: An Assessment