Theory and practice of industrial policy: evidence from the Latin American experience

Includes bibliography

The economics of demand-led growth: theory and evidence for Brazil

Includes bibliography

Agroforestry in the Amazon Basin: practice, theory and limits of a promising land use

Includes bibliography

Democratic theory and women's participation in politics: the Chilean case

Includes bibliography

Financial constraints on economic development: Theory and policy for developing countries

This article contains a theoretical and policy analysis of the financial constraints on economic development in developing countries. Following a Keynesian interpretation, it concludes that financial policies are needed to relieve these constraints, given the natural tendency of financial systems to operate in ways that are dysfunctional to economic development. It then proposes three lines of policy that take account of the special characteristics of developing countries: resource allocation policies targeted at segments of strategic importance for economic and financial development; policies to control financial and external fragility; and compensatory policies of a more interventionist cast, in particular directed credit programmes for both public- and private-sector lending to complement resource allocation policies, and countercyclical regulatory barriers so that fragility can be better controlled.