International Finance and Development: Failure and Success in the Developing World

Jansen, Karel; Vos, Rob

This book studies the impact of different sources of external finance on growth and development in different country contexts. An important finding of the study is that 'success' or 'failure' in the productive use of external and domestic financial resources cannot be explained on the basis of single factors such as external shocks or 'bad' versus 'sound' policies. Rather, they are outcomes of complex interactions between changes in exogenous factors (such as fluctuations in external finance and trade shocks), existing economic structures and the responses to shocks by domestic public and private sector agents. This finding also implies that there are no recipes in economic policy-making which are generally applicable; the 'best' policy has to be designed specifically for each country.

Details

Published by: Palgrave Macmillan

Publication Date: 1997-09-17

Format: Hardcover

ISBN-13: 9780333693902

DOI: 10.1007/978-1-349-25905-2

Dimensions: 216cm x140cm

Pages: 475