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 39
... nominal interest rate on deposits , d , and the " convenience " of holding money — particularly in demand deposits ... rate of inflation . The symbol d is to be interpreted as a weighted average of nominal interest rates on all classes ...
... nominal interest rate on deposits , d , and the " convenience " of holding money — particularly in demand deposits ... rate of inflation . The symbol d is to be interpreted as a weighted average of nominal interest rates on all classes ...
Page 79
... interest that reflect the general scarcity of capital and the peculiar ... nominal rates of interest that in- corporate the expected future price inflation look too high to borrowers and too low to depositors . The former don't want to be ...
... interest that reflect the general scarcity of capital and the peculiar ... nominal rates of interest that in- corporate the expected future price inflation look too high to borrowers and too low to depositors . The former don't want to be ...
Page 108
Ronald I. McKinnon. form that raised the official ceiling on nominal interest rates on time and savings deposits from 15 to 30 percent , with some scaling down of rates on time deposits of shorter maturities . 12 The weighted average ...
Ronald I. McKinnon. form that raised the official ceiling on nominal interest rates on time and savings deposits from 15 to 30 percent , with some scaling down of rates on time deposits of shorter maturities . 12 The weighted average ...
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 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 savings deposits sector seigniorage self-finance self-financed investment stock of money store of value subsidy tariff theory tion U.S. dollars