Investment Finance in Economic Development

Synopsis

As a result of the liberalization of the 1980s, the financial system has acquired a prominent role in developing economies. It is now conventional wisdom that 'financial liberalization' is themeans to stimulate economic development.
Investment Finance in Economic Developmentchallenges this assumption and offers an alternative view. The book presents a post-Keynesian approach to the role of banks, financial markets and savings in economic development. It departs from the conventional belief that financial institutions are mere intermediaries between savers and investors, to show that banks have a key, active role in the process of investment finance and growth. Further, financial markets, as the lociof allocation of financial savings, are shown to have an important role in supporting financial stability during the process of growth.

Additional information

Contributors:
Publisher: Place of publication:
  • New York
Publication year:
  • 1995