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Finance & Development, June 1971
Author:
International Monetary Fund. External Relations Dept.
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Series:
Finance & Development
Volume/Issue:
Volume 8: Issue 002
Language:
English
Publication Date:
01 Jun 1971
DOI:
https://doi.org/10.5089/9781616353032.022
ISBN:
9781616353032
ISSN:
0015-1947
Pages:
61
Keywords:
FD; F&D; cost; market; dollar; monetary unit; ratio; IDA lending operations; budget agency; fund Stand-by arrangements; lending program; benefit cost; International capital markets; Budget planning and preparation; Income and capital gains taxes; Commodity markets; Discount rates; Africa; Asia and Pacific; East Africa; North America; Global
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Opinions expressed in articles and other materials are those of the authors; they do not necessarily reflect IMF policy.
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This paper examines the difference between “capital” and “investment” for developing countries. The paper highlights that investment in material capital is merely one of the factors involved in economic development and that current expenditures on health, education, agricultural extension, family planning, research, management training, and so on, may be equally important or even more important than investment in capital. The paper offers a brief historical survey, drawing attention to factors leading to the development of a market where savers and investors are brought together.
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Cover Finance & Development
Finance & Development
ISSN:
0015-1947
Publisher:
International Monetary Fund