Financing Public Sector Development Expenditure: The Asian Experience

Kedar N. Kohli

Asian Development Review (ADR), 1987, vol. 05, issue 02, 1-30

Abstract: The public sector has played a key role in the economies of Asian developing countries. Most of these countries, after achieving politicial independence, embarked on national economic development plans involving ambitious investment programs. The need for building up physical and social infrastructure and the risks associated with large industrial investments in the absence of developed capital markets provided the rationale for the active participation of the public sector in the development process. Also, it was considered that the involvement of the public sector was necessary to generate sufficient domestic savings through budgetary surpluses and profits of public enterprises to finance development expenditures…

Date: 1987
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DOI: 10.1142/S011611058700006X

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