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. |
From inside the book
Results 1-3 of 37
Page 39
... real money balances , M / P , to the real return on hold- ing money that they anticipate . As a convenient short - hand term , the real return on holding money will be denoted here by d p * , where P * is the expected future rate of ...
... real money balances , M / P , to the real return on hold- ing money that they anticipate . As a convenient short - hand term , the real return on holding money will be denoted here by d p * , where P * is the expected future rate of ...
Page 52
... real money balances . Yet if physical capital seems very scarce , the loss of transactions efficiency seems like a social cost well worth bearing as long as the inflation stops short of driving the economy to barter . Indeed , some ...
... real money balances . Yet if physical capital seems very scarce , the loss of transactions efficiency seems like a social cost well worth bearing as long as the inflation stops short of driving the economy to barter . Indeed , some ...
Page 67
Ronald I. McKinnon. • The demands for stocks of cash balances and physical capital are complementary over a range ... real return on holding money and its stability . • There is a determinate optimal real return on money that is likely to ...
Ronald I. McKinnon. • The demands for stocks of cash balances and physical capital are complementary over a range ... real return on holding money and its stability . • There is a determinate optimal real return on money that is likely to ...
Contents
Introduction | 1 |
The Intervention Syndrome | 22 |
Money and the Price Level | 37 |
Copyright | |
8 other sections not shown
Other editions - View all
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