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 152
... devaluation , almost all the IMF's stand - by had to be drawn , though the pressure then slackened . De- mand for imports continued at high levels . Under these conditions the Colombian authorities found it impossible to liberalize ...
... devaluation , almost all the IMF's stand - by had to be drawn , though the pressure then slackened . De- mand for imports continued at high levels . Under these conditions the Colombian authorities found it impossible to liberalize ...
Page 157
... devaluation and stabilization loan , the exchange rate looks as though it would be stable for at least a year or two , and exporters release inventories and begin new production at more favorable prices . Importers now find it ...
... devaluation and stabilization loan , the exchange rate looks as though it would be stable for at least a year or two , and exporters release inventories and begin new production at more favorable prices . Importers now find it ...
Page 166
... devaluation . Instead of devaluing fully to " the " equilibrium ex- change rate associated with free trade , suppose the authorities undertake a somewhat smaller discrete devaluation . Initially , trade 10. There had been some minor ...
... devaluation . Instead of devaluing fully to " the " equilibrium ex- change rate associated with free trade , suppose the authorities undertake a somewhat smaller discrete devaluation . Initially , trade 10. There had been some minor ...
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 domestic economy effect efficient entrepreneurs exchange rate export external finance farmers financial repression firm-households firms fiscal foreign capital foreign exchange foreign trade fragmentation Hence 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 price index 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