Foreign-Capital Utilization and Economic Policies in Developing Countries In Developing Countries
Bibliographic Data
| ID | 19319225 |
|---|---|
| Authors | Kaj Areskoug (corresponding author) |
| Year | 1973 |
| Volume | 55 |
| Issue | 2 |
| Pages | 182 |
| Publication date | 1973-05-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Review of Economics and Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Publisher | JSTOR (PUBLISHER) |
| DOI | 10.2307/1926992 |
| OpenAlex | W1494065960 |
| Language | EN |
| Citations received | 4 |
| References cited | 7 |
T HE traditional aid-and-development literature assumes that, under most relevant circumstances, aid and other capital flows to developing countries induce an expansion of economic activity and output in these countries. In the underlying models such capital finances an equivalent amount of net imports of either (a) capital goods of an unspecified nature (thereby relaxing the saving constraint) or (b) specific required inputs obtainable only from abroad (thereby relaxing the foreign-exchange constraint).' A number of writers have estimated the effects of past capital inflows and capital requirements on the basis of 'this assumption, without seriously questioning its validity (Rosenstein-Rodan 1961; Chenery and Bruno 1962; Manne 1963). Several recent writers, however, have criticized this view, both because of its formal incompatibility with other aspects of the theoretical models employed and because of its inconsistency with empirical observation (Rahman 1968, Areskoug 1969, Chenery and Eckstein 1970, Griffin 1970, Griffin and Enos 1970, Weisskopf 1972).2 It seems that a considerable portion of these capital inflows have in fact been allocated to consumption and that ties and other creditor (donor) restrictions designed to channel them into investment have been largely ineffective. The traditional aid-and-development models must therefore be deficient
Business · Capital (architecture) · Developing country · Economic growth · Economics · Foreign capital · Foreign direct investment · International economics · International trade · Macroeconomics · International Development and Aid
The impact of foreign capital inflow on domestic savings in underdeveloped countries
International Aid for Underdeveloped Countries
Foreign Capital and Domestic Savings
Development Alternatives for Latin America
The Effect of Aid and Other Resource Transfers on Savings and Growth in Less Developed Countries
Development Alternatives in an Open Economy
Foreign Assistance
| Citations per year | 0.08 |
|---|---|
| Citation span | 1974 - 1994 (21) |
| Highly cited | No |