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Abstract Recent writings on poverty and hunger agree broadly on objectives and means but diverge significantly in emphasis. Views differ on the importance and function of economic growth and on how much weight to give to direct public support. These differences can matter in policy choices....
Abstract Voluntary export restraints have been a popular resort of industrial countries faced with increasing competition from exports of developing countries. As a strategy for circumventing the rules of the GATT (whose regulations preclude increases in tariffs), these nontariff barriers have...
Abstract What advantages and disadvantages does the heterodox strategy offer to stabilization programs in countries with chronic high inflation? Heterodox stabilization programs, in our definition, are those that support orthodox policies— that is, tight fiscal policy and a fixed exchange...
Abstract Throughout the twentieth century governments have been spending ever larger proportions of national income. Three issues arise in discussions about the growth of such spending as it pertains to developing countries: How does it compare with expenditure in industrial nations? What...
Abstract This article provides a framework for appraising new financial instruments and evaluating the extent to which they can help alleviate problems of incomplete credit markets and contingent claims markets in developing countries. Although the issues involved apply to any new financial...
Abstract This article reviews theories of investment behavior and examines empirical studies of investment in developing countries. The emphasis is on understanding the interactions among macroeconomic policies, structural adjustment, and private investment. The article deals with the effect of...
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