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 26
Ronald I. McKinnon. places a heavy burden on agriculture , indirectly through tariff and other industrial protection and directly through devices for reduc- ing agricultural prices . For example , beef exports have been cur- tailed at ...
Ronald I. McKinnon. places a heavy burden on agriculture , indirectly through tariff and other industrial protection and directly through devices for reduc- ing agricultural prices . For example , beef exports have been cur- tailed at ...
Page 81
... agricultural lending rate —the inverse of the appropriate relationship in view of higher agricultural lending costs - caused most commercial banks to sub- vert this process as far as possible . The Bank of Brazil - less hampered by ...
... agricultural lending rate —the inverse of the appropriate relationship in view of higher agricultural lending costs - caused most commercial banks to sub- vert this process as far as possible . The Bank of Brazil - less hampered by ...
Page 82
... agriculture about doubled over the 1955–66 interval . The results — shown in Table 7-1 — were a modest rise in the ratio of agricultural credit to output from a very low initial level , and a quite spectacular drop in the ratio of bank ...
... agriculture about doubled over the 1955–66 interval . The results — shown in Table 7-1 — were a modest rise in the ratio of agricultural credit to output from a very low initial level , and a quite spectacular drop in the ratio of bank ...
Contents
Introduction | 1 |
The Intervention Syndrome | 22 |
Money and the Price Level | 37 |
Copyright | |
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Common terms and phrases
aggregate agricultural Argentina average bank credit banking system borrowers Brazil Brazilian capital accumulation capital market Chapter Chile commercial commodity deflation devaluation domestic economy effect efficient export farmers financial growth financial repression firm-households firms fiscal foreign capital foreign exchange foreign trade fragmentation Hence holders holding money import income increase industrial inflows inputs International Japan Keynesian Korea LDCs less developed countries liberalization loans M₁ monetary system Money supply moneylenders nominal interest rate nominal money nominal rates organized banking output percent period 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 return on holding return on money rise rural savings deposits sector seigniorage self-finance self-financed investment stock of money store of value subsidy sumer Table tariff theory tion