Inflow of Financial Resources and Economic Growth

Dilip K. Das

Chapter 2 in Migration of Financial Resources to Developing Countries, 1986, pp 22-39 from Palgrave Macmillan

Abstract: Abstract If any one scarce factor associated with underdevelopment should be singled out, it would indisputably be capital. This being said, it would be an over-simplification to regard economic growth as a matter of capital accumulation alone. Other factors are needed in addition, but economic growth is seldom possible without some increase in the stock of capital. An empirical study shows that compared to the US and north-western Europe, capital investment has been a more important source of growth for the developing countries (LDCs) of today.1 For a great many of the LDCs, the inner mechanics of take-off involve a problem of capital formation, for which there are materially two ways: domestic savings and inflow of foreign resources.

Keywords: Foreign Exchange; External Resource; Capital Inflow; Domestic Saving; Donor Economy (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-18291-6_2

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DOI: 10.1007/978-1-349-18291-6_2

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