Aid to Underdeveloped Countries

R. L. Major

National Institute Economic Review, 1961, vol. 15, 30-35

Abstract: Aid from industrial countries (that is, grants and long-term public and private investment) now makes a significant contribution to the economies of underdeveloped countries. From 1956 to 1959, these countries received, on average, $6½ billion a year. This yearly inflow was equal to about a third of their income from merchandise exports to the rest of the world, or something approaching two-thirds of their total stock of gold and foreign exchange reserves; it is very much bigger than it was in the post-war years up to 1952—when it was probably not more than $2 billion a year.

Date: 1961
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