Author: V. V. BhattPublisher:
ISBN:
Category : Capital market
Languages : en
Pages : 89
Book Description
Capital Market Imperfections and Economic Development
Author: V. V. BhattPublisher:
ISBN:
Category : Capital market
Languages : en
Pages : 89
Book Description
Capital Market Imperfections and Economic Development
Author: Capital Market Imperfections and Economic Development
Author: Vinayak Vijayshanker BhattPublisher:
ISBN:
Category : Capital
Languages : en
Pages : 100
Book Description
Capital Market Imperfections and Economic Development
Author: Wp-0338Money and Capital in Economic Development
Author: Ronald I. McKinnonPublisher: Brookings Institution Press
ISBN: 9780815718499
Category : Business & Economics
Languages : en
Pages : 204
Book Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
Essays on capital market imperfections, intergenerational mobility and economic development[
Author: Ana Hidalgo CabrillanaPublisher:
ISBN: 9788468838717
Category :
Languages : en
Pages : 258
Book Description
Finance and Development
Author: Alberto GiovanniniPublisher: Cambridge University Press
ISBN: 0521440173
Category : Business & Economics
Languages : en
Pages : 384
Book Description
Progress towards economic and monetary union in Western Europe has highlighted the importance of regional policies, while events in Eastern Europe have focused attention on the role of finance in development and may lead to a substantial diversion of capital flows. This volume from the Centre for Economic Policy Research addresses the relationships between growth, convergence, and capital market imperfections. Theoretical papers shed light on the debates over the role of financial structure in economic development and the scope for government intervention to promote regional development. Highly topical empirical papers examine the relationship between international lending and economic development in a historical perspective; the experience of regional policies in the European Community, and of financial liberalization in high-growth East Asian economies; and the development of financial markets in Eastern Europe.
Savings, Growth and Capital Markets Imperfections
Author: Jose De GregorioPublisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
Book Description
This paper studies the effects that borrowing constraints have on savings and growth and argues that, though they increase savings, their effect on growth is ambiguous. Empirical evidence on the extent of borrowing constraints as well as savings, investment, human capital accumulation and growth performance for industrialized countries is presented. A simple model to show the effects of borrowing constraints on savings is developed. Then the model is extended to analyze the effects of borrowing constraints on human capital accumulation and growth. It is shown that borrowing constraints increase savings, but reduce human capital accumulation.
The American Capital Market, 1846-1914
Author: Richard Eugene SyllaPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 340
Book Description
Money and Capital in Economic Development
Author: Ronald I. McKinnonPublisher: Brookings Institution Press
ISBN: 0815718497
Category : Business & Economics
Languages : en
Pages : 197
Book Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.