Mr. Patel, Assistant Chief of the Finance Division, is presently on leave from the Fund, to undertake an assignment with the Ministry of Finance of the Government of India. He was educated at the University of Bombay, the University of Cambridge, and the Harvard Graduate School, and was formerly Professor of Economics in the University of Baroda.
This paper was presented to the Fourth Meeting of Technicians of Central Banks of the American Continent, at New York City, May 1954.
Selective credit controls may be applied to banks as well as to other lenders, such as insurance companies and savings or mortgage banks. However, lenders other than banks are for the most part disregarded in this discussion.
See “Economic Development with Stability,” Staff Papers, Vol. III, No. 3 (February 1954), pp. 356-58.
See Monetary Policy and the Management of the Public Debt (Joint Committee on the Economic Report, Washington, D.C., 1952), Part I, pp. 485 et seq.