A Comparison of Two Cycles in the World Economy: 1989-2007 Korkut Boratav

The paper compares and analyses some of the quantitative indicators of the world economy during the 1989-2007 years. The global economic system is studied on the basis of the division of an imperialist system consisting of the metropole and the periphery, and their major sub groups and is divided into two cycles, namely 1989-1997 and 1998-2007. The paper concludes that nature of external linkages on the basis of which peripheral economies confronted the 2008-2009 upheaval determines their degree of vulnerability  vis a vis the international crisis.

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