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 15
... firm - households . The borrowing rate for firms undertaking discrete investments can be closely related to the return seen by those who are net savers . By paying a rate of interest on financial assets that is significantly above the ...
... firm - households . The borrowing rate for firms undertaking discrete investments can be closely related to the return seen by those who are net savers . By paying a rate of interest on financial assets that is significantly above the ...
Page 56
... ( households ) and inves- tors ( firms ) , according to the argument developed in Chapter 2 . These firm - households do not borrow from , or lend to , each other . B. The small size of firm - households implies that indivisibilities in ...
... ( households ) and inves- tors ( firms ) , according to the argument developed in Chapter 2 . These firm - households do not borrow from , or lend to , each other . B. The small size of firm - households implies that indivisibilities in ...
Page 64
Ronald I. McKinnon. tunities available to each firm - household suggests another related argument for maintaining ... households , because the competing - asset effect of high cash bal- ances reduces the flow of lower - return investments ...
Ronald I. McKinnon. tunities available to each firm - household suggests another related argument for maintaining ... households , because the competing - asset effect of high cash bal- ances reduces the flow of lower - return investments ...
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