This paper highlights some particularly sharp movements in the effective exchange rates of a number of the currencies of major industrial countries during 1978 and early 1979. These changes followed sizable, but less pronounced movements in the effective exchange rates of some of these...

This paper describes declining activity that was responsible for a weakening of import demand in the industrial countries. There was also a marked reduction in the growth of the volume of imports by the non-oil developing countries, notwithstanding a substantial increase in external borrowing at...

This paper discusses relaxation of restrictions in most cases that applied to trade; in some countries there was also liberalization with respect to invisibles. Yugoslavia introduced a major revision of its trade and payments system at the beginning of 1967 and has initiated steps to reduce its...