Mobilizing domestic resources for development - Chapter III

Chia sẻ: Nguyen Nhi | Ngày: | Loại File: PDF | Số trang:36

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Mobilizing domestic resources for development - Chapter III

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Standard economic theory argues that international private capital flows will make a major contribution to development to the extent that they will flow from capital-abundant industrialized countries to capital-scarce developing countries, and help to smooth spending throughout the business cycle in capital-recipient countries. In recent years, reality has contradicted both aspects of this standard theory. For the last seven years, developing countries have transferred large amount of resources to developed countries. In addition to this, private capital flows to developing countries are highly concentrated in a group of large middle-income countries and are particularly insufficient for low-income and small countries....

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