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...

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Autor principal:	Hermann, Jennifer
Formato:	Texto
Lenguaje:	English
Publicado:	2015
Materias:	DESARROLLO ECONOMICO FINANCIACION DEL DESARROLLO POLITICA FINANCIERA SERVICIOS FINANCIEROS CREDITO ECONOMIA KEYNESIANA PAISES EN DESARROLLO SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC DEVELOPMENT DEVELOPMENT FINANCE FINANCIAL POLICY FINANCIAL SERVICES CREDIT KEYNESIAN ECONOMICS DEVELOPING COUNTRIES MONETARY SYSTEMS FINANCIAL RESOURCES
Acceso en línea:	http://hdl.handle.net/11362/37806
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spelling	oai-11362-378062020-03-06T16:50:27Z Financial constraints on economic development: Theory and policy for developing countries Hermann, Jennifer DESARROLLO ECONOMICO FINANCIACION DEL DESARROLLO POLITICA FINANCIERA SERVICIOS FINANCIEROS CREDITO ECONOMIA KEYNESIANA PAISES EN DESARROLLO SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC DEVELOPMENT DEVELOPMENT FINANCE FINANCIAL POLICY FINANCIAL SERVICES CREDIT KEYNESIAN ECONOMICS DEVELOPING COUNTRIES MONETARY SYSTEMS FINANCIAL RESOURCES 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. 2015-03-26T14:39:32Z 2015-03-26T14:39:32Z 2014-12 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/37806 LC/G.2629-P 4 en CEPAL Review CEPAL Review 114 .pdf application/pdf
institution	Cepal
collection	Cepal
language	English
topic	DESARROLLO ECONOMICO FINANCIACION DEL DESARROLLO POLITICA FINANCIERA SERVICIOS FINANCIEROS CREDITO ECONOMIA KEYNESIANA PAISES EN DESARROLLO SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC DEVELOPMENT DEVELOPMENT FINANCE FINANCIAL POLICY FINANCIAL SERVICES CREDIT KEYNESIAN ECONOMICS DEVELOPING COUNTRIES MONETARY SYSTEMS FINANCIAL RESOURCES
spellingShingle	DESARROLLO ECONOMICO FINANCIACION DEL DESARROLLO POLITICA FINANCIERA SERVICIOS FINANCIEROS CREDITO ECONOMIA KEYNESIANA PAISES EN DESARROLLO SISTEMAS MONETARIOS RECURSOS FINANCIEROS ECONOMIC DEVELOPMENT DEVELOPMENT FINANCE FINANCIAL POLICY FINANCIAL SERVICES CREDIT KEYNESIAN ECONOMICS DEVELOPING COUNTRIES MONETARY SYSTEMS FINANCIAL RESOURCES Hermann, Jennifer Financial constraints on economic development: Theory and policy for developing countries
description	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.
format	Texto
author	Hermann, Jennifer
author_facet	Hermann, Jennifer
author_sort	Hermann, Jennifer
title	Financial constraints on economic development: Theory and policy for developing countries
title_short	Financial constraints on economic development: Theory and policy for developing countries
title_full	Financial constraints on economic development: Theory and policy for developing countries
title_fullStr	Financial constraints on economic development: Theory and policy for developing countries
title_full_unstemmed	Financial constraints on economic development: Theory and policy for developing countries
title_sort	financial constraints on economic development: theory and policy for developing countries
publishDate	2015
url	http://hdl.handle.net/11362/37806
work_keys_str_mv	AT hermannjennifer financialconstraintsoneconomicdevelopmenttheoryandpolicyfordevelopingcountries
_version_	1718433319017775104

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

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