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George B. Baldwin

Although business men in developing countries may justifiably feel that they are breaking new ground in advancing its industrialization, as a group they follow a predictable pattern of activity.

International Monetary Fund. External Relations Dept.

This paper discusses quantitative indicators that measure such macroeconomic variables as the growth of national product, inflation. The importance of considering several indicators in a dynamic context becomes particularly relevant during periods when needed economic and financial adjustment measures are undertaken. Rationales given for maintaining negative real interest rates in developing countries range from keeping down the cost of servicing the public sector’s debt, or of investment, to avoiding the consequences of other policies.