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 70
... loans were fixed at £ E400 , catered exclusively for the long- term needs of estate owners who were able to offer adequate col- lateral security for loans . As the market value of the average holding in the under 5 feddans size - group ...
... loans were fixed at £ E400 , catered exclusively for the long- term needs of estate owners who were able to offer adequate col- lateral security for loans . As the market value of the average holding in the under 5 feddans size - group ...
Page 73
... loans have emasculated the ability and willing- ness of commercial banks to serve small - scale borrowers of all classes . A maximum interest rate of 10 percent does not begin to cover the administrative costs and potential default ...
... loans have emasculated the ability and willing- ness of commercial banks to serve small - scale borrowers of all classes . A maximum interest rate of 10 percent does not begin to cover the administrative costs and potential default ...
Page 78
... loans from a savings bank at 8 percent and in turn lent the money to a rural cooperative at 12 percent , which parceled out loans among its members at 17 percent . " 1 Surpris- ingly there were no defaults , and all loans were repaid ...
... loans from a savings bank at 8 percent and in turn lent the money to a rural cooperative at 12 percent , which parceled out loans among its members at 17 percent . " 1 Surpris- ingly there were no defaults , and all loans were repaid ...
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