This essay will report on the results of research on the policy responses of developing countries to exogenous (external) shocks in the 1973–8 and 1978–83 periods. It will further examine the economic performance of outward-oriented and inward-oriented developing countries in the light of the policies applied. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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