Abstract
In an open economy domestic savings can be supplemented by many kinds of external assistance. In this section the role of foreign borrowing in the development process will be considered, together with the debt-servicing problems associated with it. Later, we shall consider types of foreign assistance such as private foreign investment and international assistance, both bilateral and multilateral.
This is a preview of subscription content, log in via an institution to check access.
Preview
Unable to display preview. Download preview PDF.
References and Further Reading
B. Balassa, Trade Prospects for Developing Nations (Homewood, Ill.: Irwin, 1964).
R. J. Ball, ‘Capital Imports and Economic Development: Paradoxy or Orthodoxy’, Kyklos, no 3 (1962).
J. Bhagwati, ‘The Tying of Aid’ in Foreign Aid, ed. J. Bhagwati and R. Eckhaus (Harmondsworth, Penguin, 1970).
A. Carlin, ‘Project v. Programme Aid’, Economic Journal (Mar 1967).
H. Chenery and I. Adelman, ‘Foreign Aid and Economic Development: The Case of Greece’, Review of Economics and Statistics (Feb 1966).
H. Chenery and M. Bruno, ‘Development Alternatives in an Open Economy: The Case of Israel’, Economic Journal (Mar 1962).
H. Chenery and A. Macewan, ‘Optimal Patterns of Growth and Aid: The Case of Pakistan’, Pakistan Development Review (Summer 1966).
H. Chenery and A. Strout, ‘Foreign Assistance and Economic Development’, American Economic Review (Sep 1966).
M. Davenport, ‘The Allocation of Foreign Aid’, Yorkshire Bulletin (May 1970).
E. Domar, ‘The Effect of Foreign Investment on the Balance of Payments’, American Economic Review (Dec 1950).
E. Eshag, ‘Study of the Excess Cost of Tied Economic Aid Given to Iran 1966/67’ (UNCTAD, 1967).
K. Griffin, ‘Foreign Capital, Domestic Savings and Economic Development’, Bulletin of the Oxford Institute of Economics and Statistics (May 1970).
M. Haq, ‘Tied Credits — A Quantitative Analysis’, in Capital Movements and Economic Development, ed. J. Adler (International Economic Association Conference, London: Macmillan, 1967).
J. P. Hayes, ‘Long Run Growth and Debt Servicing Problems’, in Economic Growth and External Debt, ed. D. Avramovic and Associates (Baltimore: Johns Hopkins Press, 1964).
T. Hayter, Aid as Imperialism (Harmondsworth: Penguin, 1971).
P. D. Henderson, ‘The Distribution of Official Development Assistance Commitments by Recipient Countries and by Sources’, Oxford Bulletin of Economics and Statistics (Feb 1971).
A. Hirschman and R. Bird, Foreign Aid — A Critique and a Proposal, Essays in International Finance No. 69 (Princeton University Press, 1968).
B. Hopkin and Associates, ‘Aid and the Balance of Payments’, Economic Journal (Mar 1970).
D. Horowitz, The Abolition of Poverty (New York: Praeger, 1969).
C. Kennedy, ‘Restraints and the Allocation of Resources’, Oxford Economic Papers (July 1968).
— and A. P. Thirlwall, ‘Foreign Capital, Domestic Savings and Economic Development: Some Comments’, Bulletin of the Oxford Institute of Economics and Statistics (May 1971).
D. R. Khatkhate, ‘Debt-Servicing as an Aid to Promotion of Trade of Developing Countries’, Oxford Economic Papers (July 1966).
M. Levitt, ‘Aid and the Balance of Payments: The Scope for Untying and for Increasing Aid’, Manchester School (Sep 1970).
S. B. Linder, Trade and Trade Policy for Development (New York: Praeger, 1967).
I. Little and J. Clifford, International Aid (London: Allen & Unwin, 1965).
R. McKinnon, ‘Foreign Exchange Constraints in Economic Development and Efficient Aid Allocation’, Economic Journal (June 1964).
R. Marris, ‘Can We Measure the Need for Development Assistance?’, Economic Journal (Sep 1970).
B. F. Massell, ‘Exports, Capital Imports and Economic Growth’, Kyklos, no. 4 (1964).
R. Mikesell, The Economics of Foreign Aid (London: Weidenfeld & Nicolson, 1968).
G. Ohlin, ‘The Evolution of Aid Doctrine’, Foreign Aid Policies Reconsidered (Paris: O.E.C.D., 1965).
G. Papanek, ‘Aid, Foreign Private Investment, Savings and Growth in Less Developed Countries’, Journal of Political Economy (Jan–Feb 1973).
Pearson Report, Partners in Development, Report of the Commission on International Development (London: Pall Mall Press, 1969).
J. Pesmazoglu, ‘Growth, Investment and Savings Ratios: Some Long and Medium Term Associations by Groups of Countries’, Bulletin of the Oxford Institute of Economics and Statistics (Nov 1972).
J. A. Pincus, ‘The Cost of Foreign Aid’, Review of Economics and Statistics (Nov 1963).
P. Rosenstein-Rodan, ‘International Aid for Underdeveloped Countries’, Review of Economics and Statistics (May 1961).
H. Singer, ‘The Distribution of Gains Between Investing and Borrowing Countries’, American Economic Review (May 1950).
UNCTAD, Trade Prospects and Capital Needs of Developing Countries (New York: United Nations, 1968).
J. Vanek, Estimating Resource Needs for Economic Development (New York: McGraw-Hill, 1967).
Author information
Authors and Affiliations
Copyright information
© 1978 A. P. Thirlwall
About this chapter
Cite this chapter
Thirlwall, A.P. (1978). Financing Development from External Resources. In: Growth and Development. Palgrave, London. https://doi.org/10.1007/978-1-349-15875-1_13
Download citation
DOI: https://doi.org/10.1007/978-1-349-15875-1_13
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-22781-7
Online ISBN: 978-1-349-15875-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)