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Front Matter Page
Editor
J.D. Scott
Deputy Editor
Donald Townson
Consulting Editors
L. Rubén Azócar
Paul A. Gibeault
Advisors to the Editor
Roger V. Anderson
Barend A. de Vries
H. Geoffrey Hilton
John A. King
John E. Merriam
Carlos E. Sansón
Eugene R. Schlesinger
Charles F. Schwartz
U Tun Wai
David Williams
Assistant to the Editor
Nicholas Gilbert
Editorial Assistant
Marjorie H. Antonoff
Design
Hördur Karlsson
Richard W. Stoddard
Linda M. Reynolds
Finance and Development is published quarterly in English, French, and Spanish by the International Monetary Fund and the International Bank for Reconstruction and Development, Washington, D.C. 20431, U.S.A.
New readers who wish to see Finance and Development regularly may request an appropriate institution to make application to be added to our English edition mailing list. Such institutions will receive the publication free of charge. Additional copies will be supplied to institutions already on the list in accordance with reader demand. Applications should be mailed to Finance and Development, International Monetary Fund Building, Washington, D.C., 20431, U.S.A.
A German language edition is published by the International Monetary Fund and the International Bank for Reconstruction and Development in collaboration with HWWA—Institut fur Wirt-schaftsforschung-Hamburg, sponsored by Kreditanstalt für Wiederaufbau and produced by Verlag Weltarchiv GmbH.
Readers wishing to receive the German edition should write directly to Finanzierung and Entwick-lung, HWWA-Institut, 2 Hamburg 36, Neuer Jungfernstieg 21, Germany.
A selection of the contents of Finance and Development is published annually in Rio de Janeiro, Brazil, in cooperation with the United Nations Information Center, in Portuguese.
Opinions expressed in articles and other material are those of the writer or writers; they are not statements of Fund or Bank policy.
The contents of Finance and Development may be quoted or reproduced without further permission. Due acknowledgment is requested.
Controlled circulation postage paid at Washington, D.C.
table of contents
Development and Income Distribution
John H. Adler
Economic growth has been accompanied by increasing inequality in many developing countries. But a strategy of “nibbling” at the problems of income distribution through financial and technical assistance seems promising.
The Plight of Small Countries
Barend A. de Vries
Small countries receive more aid than big ones, on both a per capita basis and as a percentage of their GNP. But this may not be as unfair as it seems.
Priorities for Statistical Development
George J. Novak
In improving social and economic statistics in developing countries, scarce resources such as skilled manpower and technical facilities can be best used by concentrating on priority sectors.
How Relevant is Finance for Development?
Anand G. Chandavarkar
Existing financial policies, practices, and institutions in many developing countries are a major obstacle to economic growth.
Economic Aid Through Debt Relief
Thomas M. Klein
Long-term foreign assistance, or help toward resolving a short-term liquidity problem?—a look at this sensitive issue with a table summarizing multilateral debt renegotiations 1956-73.
Incomes and Labor Market Policies in Sweden
Ekhard Brehmer and Maxwell R. Bradford
Direct controls have been replaced by fiscal and monetary policies and energetic efforts by the Swedish Government to retrain and redeploy labor. The authors describe how well these measures have reconciled price stability with full employment and economic growth.
Problems and Prospects in East-West Trade
Geoffrey Tyler and Hubert Neiss
If the political and economic barriers continue to fall, rising real income in Eastern Europe will push demand for imports above the 11 per cent annual increase of the past decade.
Income Distribution and Project Selection
V.C. Nwaneri
The third London Airport serves as an example of how noneconomic issues and income distribution might have been introduced along with the efficiency criterion at a very early stage of project selection. If it had, the site chosen might be different….
IMF Resident Representatives
Shrikrishna A. Pandit
An important aspect of the Fund’s technical assistance effort is the work of its Resident Representatives in member countries.
The Readership of Finance and Development
A summary of the results of the 1973 survey of the English, French, and Spanish mailing lists.
Book Notices
Without false optimism
Khan, The Economy of Bangladesh
An emotionally concerned economist
Harrod, Economic Dynamics
Analyzing crude oil prices
Adelman, The World Petroleum Market
Berg, The Nutrition Factor
McNamara, One Hundred Countries, Two Billion People
Bhatt, Two Decades of Development: The Indian Experiment
Fund Activity
Bank Group Activity
Views and Comments
Reid: Aid—who knows best?
Demuth: Developing agricultural technology in the LDCs
Schweitzer: On the reluctance of countries…