In view of the preponderant role investments play at present in any development policy, it may well be worthwhile examining whether it would not be advisable in drawing up future aid schemes to lay greater emphasis on the stimulation of consumption.

The question as to which economic sectors can play a leading role in a development process has given rise to two schools of thought. The author presents a survey of the “balanced” and “unbalanced” growth theories paying special regard to their practical applicability in the framework of...

Collective Self-Reliance is the descriptive term for a development strategy which has lately often been suggested as a means of overcoming underdevelopment. The question for us is whether it is to be treated as more than a slogan, which it is still today, and whether it really offers a possible...

In September 1973, the President of the World Bank, Robert S. McNamara, made a challenging address to the Governors of the Central Banks of the member states of the international Monetary Fund. The main subject in his speech was the problem of poverty particularly in rural areas of developing...