An Analysis of World Economic Growth in 1950-1973 Period

  • Bogomil Ferfila


In our treatise we mostly discuss the period of rapid growth between 1950 and 1973. This period characterize: 1. New liberal world order was based on national institutional and political arrangements and on efficient economic cooperation at least among OECD countries; 2. Trade barriers were diminished, capital and trade flows were intensified and numerous programs of international aid were inaugurated; 3. Domestic policies and their instruments had been changed - now the emphasis were placed on growth and full employment, active fiscal and monetary policies and on increased role of national state in economy.