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.

Ajuste del balance de pagos, política crediticia y control del endeudamiento externo = Balance-of-payments adjustment, credit policy and control of the external debt

Incluye Bibliografía

E-commerce and export promotion policies for small- and medium-sized enterprises: East Asian and Latin American experiences

Includes bibliography

Access to credit in Argentina

Includes bibliography

Savings in Latin America after the mid 1990s: determinants, constraints and policies

Includes bibliography

Renewable energy and energy efficiency in Latin America and the Caribbean: constraints and prospects

Includes bibliography

Saving and investment under external and fiscal constraints

Includes bibliography

Major macroeconomic disturbances, expectations and policy responses

Includes bibliography

Brazil's second catch-up: characteristics and constraints

Includes bibliography

Bank consolidation and credit concentration in Brazil (1995-2004)

Includes bibliography

Structural constraints on development in Latin America and the Caribbean: a post-crisis reflection

Includes bibliography

Income inequality and credit markets

Includes bibliography

Mexico: food price increases and growth constraints

Includes bibliography

Crédito agrícola en la América Central = Agricultural credit in Central America

Incluye Bibliografía

Crédito agrícola en Costa Rica = Agricultural credit in Costa Rica

Incluye Bibliografía