This paper looks at investment in developing countries, its relationship to growth and development, and the macroeconomic conditions and policies through which investment and growth can flourish. It draws heavily on recent empirical studies by the International Monetary Fund in this area and brings out some of the issues surrounding the efforts by the Fund to support policies conducive to higher savings, investment, and growth in the context of adjustment programs.

Papers Presented at a Seminar held in Kuwait, December 11-13, 1989