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Title variants
Role of Raw Materials in the World Economy and Trade
Languages of publication
Abstracts
The article presents an attempt at answering a quest ion whether changes generated by the so- c al led "energy crisis " and consisting in a substantial rise in prices of raw materials, and especially crude oil prices are permanent or temporary. The situation in the field of raw materials has been analyzed against the background of the world economy. The author has also assessed the strategy of the OPEC cartel involving reduction of crude oil production and increasing its prices stating tha it provided temporary benefits for the oil producing countries but, simultaneously, it released a whole range of adaptative responses including economical consumption of fuels and raw materials, as well as a search for new technologies aimed at savings of raw materials and energy. The OPEC strategy became a catalyst accelerating structural trans formations, especially in the highly developed countries. These transformations encompass an enhanced role of modern manufacturing industries at the cost of extractive industries. Accordingly, we shall be dealing with declining significance of raw materials in the world economy.
Keywords
Year
Volume
Physical description
Dates
published
1988
Contributors
References
Document Type
Publication order reference
Identifiers
URI
http://hdl.handle.net/11089/6655
YADDA identifier
bwmeta1.element.hdl_11089_6655
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