The liberalization of interest rates has become more and more an integrated part of the policy advice given to developing countries in order to stimulate domestic savings and to improve the allocative efficiency of investments . One of the most critical assumptions behind this policy approach...

The liberalization of interest rates has become more and more an integrated part of the policy advice given to developing countries in order to stimulate domestic savings and to improve the allocative efficiency of investments . One of the most critical assumptions behind this policy approach...

Stagnating development aid and continued reluctance on the part of western commercial banks to grant new loans to problem debtor countries have led many developing countries to pay greater attention to the mobilisation of their own resources. This article outlines a strategy for increasing the...