pt. 1. The world economy : fragile recovery with downside risks: ch. 1. The world economy : performance and prospects -- ch. 2. International trade and the trading system -- ch. 3. International financial markets : instability, trends and prospects -- pt. 2. Trade, external financing and economic growth in developing countries: ch. 4. Payments deficits, liberalization and growth in developing countries -- ch. 5. Capital flows to developing countries -- ch. 6. Rethinking policies for development.