Money and Capital in Economic DevelopmentBrookings Institution, 1973 - 184 pages Study of the role of capital and financial markets in developing countries, presenting an economic theory of economic development in which the domestic monetary system and monetary policy are of prime importance - covers agricultural credit and savings, banking systems, investment, the role of high interest rates, inflation, unemployment, money supply and the price level, trade and fiscal policy, exchange rates and foreign capital, etc. References and statistical tables. |
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Page 18
... external financing , their initial endow- ments may be an important form of collateral to ensure good per- formance ... finance . Uncertainty , which reduces leverage in the amount an entre- preneur can borrow , also shortens the time horizon ...
... external financing , their initial endow- ments may be an important form of collateral to ensure good per- formance ... finance . Uncertainty , which reduces leverage in the amount an entre- preneur can borrow , also shortens the time horizon ...
Page 28
... external finance , he could initiate bilateral action to buy contiguous pieces of land from a neighbor without waiting for government action . A could purchase parcels from B , who in turn bought from C , who even- tually purchased from ...
... external finance , he could initiate bilateral action to buy contiguous pieces of land from a neighbor without waiting for government action . A could purchase parcels from B , who in turn bought from C , who even- tually purchased from ...
Page 75
... external finance , and generally fragments the capital market even further . The problem of pro- viding collateral will always exist , but it becomes more critical when interest rates on loans are so high that the probability of de ...
... external finance , and generally fragments the capital market even further . The problem of pro- viding collateral will always exist , but it becomes more critical when interest rates on loans are so high that the probability of de ...
Contents
Introduction | 1 |
The Intervention Syndrome | 22 |
Money and the Price Level | 37 |
Copyright | |
8 other sections not shown
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Common terms and phrases
aggregate agricultural average bank credit banking system borrowers Brazil capital accumulation capital market Chapter Chile commercial commodity cost deflation devaluation Economic Development economy effect efficient entrepreneurs exchange rate export external finance farmers financial repression firm-households firms foreign capital foreign exchange foreign trade fragmentation Hence holders holding money import import substitution income increase industrial inputs internal Keynesian Korea LDCs lenders less developed countries liberalization loans marginal monetary system moneylenders neoclassical model nominal interest rate nominal money nominal rates organized banking output percent physical capital poor countries portfolio production propensity to save rate of inflation rates of interest rates of return ratio real cash balances real money balances real rates real return real stock reduced reform restrictions return on holding return on money revenue rural sector seigniorage self-finance self-financed investment stock of money store of value subsidy tariff theory tion U.S. dollars underdeveloped