A01=Michael DaCosta
Author_Michael DaCosta
balance of payments
balance-of-payment deficits
Category=JHB
Compensatory Financing Facility
concessional finance
development finance
economic policy analysis
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eq_isMigrated=1
eq_isMigrated=2
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eq_society-politics
external debt management
Gdp Growth
Gdp Growth Rate
Gdp Ratio
GNP Ratio
Harrod Domar Model
IMF
IMF Data
IMF Resource
IMF's Role
IMF’s Role
international banking impact on development
International Banks
International Commercial Banks
International Financial Intermediation
International Monetary Fund
Ivory Coast
least developed countries
LIBOR
Non-oil LDCs
OPEC Surplus
private capital flows
Third World countries
West Germany
Product details
- ISBN 9780367020576
- Weight: 480g
- Dimensions: 144 x 229mm
- Publication Date: 07 Jun 2019
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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Although commercial banks have played an increasingly important role in providing capital to developing nations, many analysts argue that private financing poses risks both to borrowing nations and the stability of the international economic system. In response, Mr. DaCosta demonstrates that developing nations that adopt appropriate policies can gain substantially by drawing on private sources of capital. His analysis indicates that many criticisms of the role of commercial banks are unfounded and that debt problems in LDCs typically are related to inadequate reserve and external debt management policies in the borrowing countries themselves. Emphasizing that economic growth in LDCs often is constrained by balance-of-payment deficits, Mr. DaCosta shows that nations relying on private capital frequently experience higher-than-average growth rates and argues that the advantages of unconditional or untied aid generally outweigh the constraints imposed by the multilateral aid agencies. In conclusion, he outlines specific policies developing nations can adopt to reduce financial risk and, turning to the needs of the poorest of the LDCs, examines a variety of proposals aimed at increasing the flow of concessional assistance to those countries that cannot qualify for commercial bank funds.
Michael DaCosta is senior economist in the Research Department of the Bank of Guyana.
