ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Oil Price and Developing Countries

Is Gulati This article takes stock of the payments position of the oil importing developing countries since the world was first overtaken by what was, by any standard, a sensationally sharp increase in the export price of oil, The author then goes on to ask if it is possible to draw any conclusion, again particularly for the ait importing developing countries on the basis of the experience of 1974 and comes up with what may well be considered a simple-minded conclusion, namely, that ways and means ought to be found to canalise more of OPEC surpluses away from the rich countries and to the poor countries of the world.

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