World Economic Outlook

World Economic and Financial Surveys

June 1993

A Survey by the Staff of the International Monetary Fund
©1993 International Monetary Fund

The World Economic Outlook presents the IMF staff’s analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. It is usually prepared twice a year, as documentation for meetings of the International Monetary and Financial Committee, and forms the main instrument of the IMF’s global surveillance activities.
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Assumptions and Conventions
Interim Committee Declaration on Cooperation
  For sustained Global Expansion
Chapter I.  
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(Chaps. I&II)
  Industrial Countries
  Developing Countries
  Countries in Transition
  Trade Policies
Chapter II.   World Economic Situation and Short-Term Prospects
  Activity and Employment
  Inflation and Commodity Prices
  Foreign Exchange and Financial Markets
  External Payments, Financing, and Debt
Chapter III.  
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Policies for Stronger Noninflationary Growth in Industrial Countries
  Stance of Monetary Policies
  Reinvigorating Fiscal Consolidation
  European Monetary Policy in the Transition to EMU
  Structural Reform and Unemployment
  Alternative Scenarios: Risks and Opportunities
Chapter IV.  
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(Chaps. IV,V,VI)
Convergence and Divergence in Developing Countries
  Growth in Developing Countries
  Saving, Investment, and Productivity
  Macroeconomic Stability
  Structural Distortions and Government Intervention
  Institutions and Human Capital
  Medium-term Prospects
Chapter V.  Economic Stability and Transformation in Countries in Transitions
  Economic Transformation in Central Europe
  Stabilization, Inter-Enterprise Arrears, and Structural
  in the Former Soviet Union
  Monetary Arrangements and the Adoption of New
  Momentum for Reform
Chapter VI.  Trade as an Engine of Growth
  Trade and Growth in Industrial Countries
  Outward-Oriented Growth Strategies in
    Developing Countries
  Importance of Trade for Countries in Transition
  Extensions of the GATT Process
  Trade Liberalization as a Strategy for World Growth
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I. Monetary Policy, Financial Liberalization, and Asset Price Inflation
Monetary Policy and Inflation
Financial Liberalization and Monetary Policy
Lessons for the 1990s
II. Medium-Term Baseline Projections and Alternative Scenarios
  Baseline Scenario for Industrial Countries
  Alternative Scenario for Industrial Countries
  Baseline Scenario for Developing Countries
  Alternative Scenario for Developing Countries
III. Regional Trading Arrangements
  Evolution of Regional Arrangements
  Economic Effects of Regional Arrangements
  Performance of Regional Trade Arrangements
  Regional Arrangements and Multilateral Trade
IV. Revised Weights for the World Economic Outlook
  Market-Exchange-Rate-Based Weights Versus
    PPP-Based Weights
  Implications of PPP-Based Weights

Statistical Appendix
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Classification of Countries
  List of Tables
  Output (Tables A1-A7)
  Inflation (Tables A8-A13)
  Financial Policies (Tables A14-A20)
  Foreign Trade (Tables A21-A25)
  Current Account Transactions (Tables A26-A31)
  External Financing (Tables A32-A36)
  External Debt and Debt Service (Tables A37-A42)
  Flow of Funds (Table A43)