The volume is divided into five traditional areas of finance: the macroeconomy, banking, securities markets, pension issues, and regulations. Four cross-cutting messages emerge. First, the erosion of national frontiers by trade, tourism, migration, and capital account liberalization means that...

During the 1990s commercial bank deposits and capital rose relative to GDP in the major developing countries. This rise largely reflected the dramatic fall in inflation of the 1990s and financial liberalization. But much of this growth in banks'loanable funds was absorbed by increased net...

Professor Currie's Comment not only strengthens his already well‐known leading sector strategy of development; it also raises some further interesting questions regarding the behavior of suppliers in Latin America which are crucial to the choice of policy for development. While the definitive...

In their analysis of the sources of Colombia's notable economic growth over the period 1963–80, the authors find that, although much can be accounted for by growth in labour, capital and improvements in the labour force, the contribution of inputs was much higher than expected, particularly in...

The Leading Sector interpretation of development originates from the observation that all multisectoral economies exhibit a certain degree of intersectoral interdependence, through either the incomes generated in each sector and the corresponding final demand for other products, or through...