Abstract
This paper presents an advanced computer-aided global macroeconomic modelling on the interdependent world economy. The model divides the world into 62 countries/regions; it has 12,700 equations and 25,000 software steps. Special attention has been given to envisage the future of global interdependence where each national economy is incorporated into an integral part of the world economy through international economic linkages. Based on alternative simulations, the model shows future images of the interdependent world economy through changes in economic growth rates, employment, wages, prices, money supply, interest rates, public finance, trade, private capital movement, official development assistance, international balance of payment and foreign exchange rates, etc., in each country or region. It forecasts that the world economic growth in the 1980s will likely be around 2.9 percent annual rate according to the Baseline projection.
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