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 62
... real return on money , which is measured on the horizontal axis of Figure 6-2 . The interval AB is one of complementarity between M / P and I / Y because of the conduit effect . For returns on money greater than B , however , the compet ...
... real return on money , which is measured on the horizontal axis of Figure 6-2 . The interval AB is one of complementarity between M / P and I / Y because of the conduit effect . For returns on money greater than B , however , the compet ...
Page 66
... Real return on holding money , d – P * in the total amount of physical investment that they can encourage in this manner . As with self - financed investments , the " quality " of direct financ- ing can also improve as the return on ...
... Real return on holding money , d – P * in the total amount of physical investment that they can encourage in this manner . As with self - financed investments , the " quality " of direct financ- ing can also improve as the return on ...
Page 108
... real return on holding money depends on the rise in nominal interest rates and the expected decline in the rate of inflation . Column 9 in Table 8-8 shows the difference between the maximum nominal deposit rate on long - term time ...
... real return on holding money depends on the rise in nominal interest rates and the expected decline in the rate of inflation . Column 9 in Table 8-8 shows the difference between the maximum nominal deposit rate on long - term time ...
Contents
Introduction | 1 |
The Intervention Syndrome | 22 |
Money and the Price Level | 37 |
Copyright | |
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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