The coming into existence of many new countries through decolonisation and the intrusion of the East-West divide resulted in four significant imperatives for reviewing the nature and causes of growth. •  The war ravaged countries were trying hard to reconstruct their economies. •  The underdeveloped countries were attempting to initiate economic development.
Any loss of market confidence could raise long-term real interest rates and debt-service costs, offsetting the expansionary effects of measures already taken and adding to financing costs. Therefore, fiscal  BIS Review 63/2009  3  support measures should be accompanied by a plan to withdraw the stimulus as the crisis abates.