External Finance and Adjustment : Failure and Success in the Developing World
1st ed. 1997
Book Details
Format
Paperback / Softback
Book Series
International Finance and Development
ISBN-10
1349259071
ISBN-13
9781349259076
Edition
1st ed. 1997
Publisher
Palgrave Macmillan
Imprint
Palgrave Macmillan
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jan 1st, 1997
Print length
475 Pages
Ksh 23,400.00
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This book studies the impact of different sources of external finance on growth and development in different country contexts.
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.
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