Money and Capital in Economic Development
Description
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves.Central to his theory is the freeing of domestic financial markets to allow interest rate...
ISBN(s)
0815756135, 9780815756132
