Finance & Development articles from March 1994

Finance & Development archives from March 1994

The East Asian miracle: building a basis for growth. (Cover Story)
March 1, 1994... MUCH OF East Asia's dramatic growth is due to superior accumulation of physical and human capital. But these economies were also better able than most to allocate these resources to highly productive investments. They did this with combinations...

Roots of East Asia's success. (includes related articles) (Cover Story)
March 1, 1994... THE RECIPE for East Asia's "miracle" certainly varied from country to country, but a set of country studies demonstrates that a core of sound economic policies laid the necessary foundation for all. The studies also dispel some myths about the...

The role of credit policies in Japan and Korea. (Cover Story)
March 1, 1994... POLICY MAKERS and economists have long believed that attempts to direct the allocation of credit would not be successful. Yet the experiences of Japan and the Republic of Korea suggest that directed credit programs can increase investment...

Are growth strategies in East Asia relevant for New Zealand? (Cover Story)
March 1, 1994... SHOULD New Zealand employ selective government interventions to boost its growth rate? Evidence strongly suggests that government-induced distortions, rather than enhancing growth, actually detract from it. Hence, New Zealand's "neoclassical"...

East Asia: a new trading bloc? (Cover Story)
March 1, 1994... DURING the last three decades, East Asia has become one of the world's most important economic regions. With the creation of trading blocs in North America and Europe, policy advisors are beginning to ask whether it is time for East Asia to form...

Surges in Capital Inflows: boon or curse?
March 1, 1994... THE RECENT surges in capital inflows to several countries have held the promise of significantly increasing investment and growth in these countries but also can pose the threat of financial instability. To fashion an appropriate policy response,...

Reductions in world military expenditure: who stands to gain?
March 1, 1994... WORLDWIDE military spending relative to output has fallen significantly since 1985 in almost all regions of the world. Without taking into account the impact of such cuts on national security, an IMF study estimates that a further drop of this...

Is wide variation in petroleum prices and tax rates warranted?
March 1, 1994... ONE OF the reasons most countries tax consumption of petroleum products is that it provides a sure source of revenue. In fact, petroleum products provide far more tax revenue than any other product, including tobacco or alcohol, especially in...

IMF Balance of Payments Manual adapts to a changing world. (International Monetary Fund)
March 1, 1994... THE PAST decade has seen important changes in the manner in which international transactions are conducted. These changes are, in particular, the result of the liberalization of financial markets, the growth in innovative financial instruments,...

Successful rural finance institutions. (includes related article)
March 1, 1994... BURDENED with low collection rates, heavily dependent on subsidies, and lacking innovative management, rural finance institutions (RFIs) as a group have not turned in a sparkling performance over the last decade. Yet a few successful RFIs have...

Informal savings collectors in Ghana: can they intermediate?
March 1, 1994... IN THE marketplaces of West Africa, individual "mobile bankers" help traders and others accumulate savings through small daily deposits. As institutions emerge that link these savings collectors to the formal financial system or adopt their...

Promoting the development of indigenous people in Latin America. (includes related article)
March 1, 1994... INDIGENOUS people--estimated at more than 300 million worldwide--inhabit over 70 countries, covering almost every climatic zone. Once ignored, they are now seen as key players, especially in Latin America, in rural development programs and in...

Indigenous people and poverty in Latin America.
March 1, 1994... INDIGENOUS people in Latin America live in conditions of extreme poverty, but a recent World Bank study shows that by targeting human capital--especially education--policymakers can help raise incomes, which, in turn, would help reduce poverty....

Housing policy: changing the structure. (includes related article)
March 1, 1994... THE HOUSING sector plays a more important role in a country's welfare than many realize, directly affecting not only people's well-being but the functioning of other economic sectors. A challenging new policy agenda developed in light of...

Housing reforms in Mexico.
March 1, 1994... OVER THE past decade, Mexico has invested about 4-5 percent of GNP in housing--about the same as other countries at a similar stage of development. But this level of investment has not been enough to prevent Mexico's housing conditions from...