Basics, non-basics, money and credit: a development perspective

Amelia Correa () and Romar Correa
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Amelia Correa: Department of Economics, St. Andrew’s College, Bandra (West), Mumbai, India

Philippine Review of Economics, 2004, vol. 41, issue 2, 93-102

Abstract: We approach the developing economy through an agriculture/industry and basics/ non-basics demarcation. A Classical-Keynesian rationale for the high interest rates in the country and low interest rates in the town is provided. The institutional requirement is for a strongly inequality-reducing state, intervening in the financing and production of basics and, correspondingly, setting in place disincentives to the production of non-basics.

Keywords: Basics; non-basics; interest rates (search for similar items in EconPapers)
JEL-codes: E11 E12 O11 (search for similar items in EconPapers)
Date: 2004
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