Global Capital Flows

William Ryrie

Chapter 5 in First World, Third World, 1999, pp 94-107 from Palgrave Macmillan

Abstract: Abstract As I have pointed out, the international aid movement arose in the post-war period at a time when economic thinking in the industrial countries was more interventionist than before or since. There was a greater inclination to believe that economic growth could be engineered by governments through planning and management of their economies, including financial markets. Aid, as an activity of governments, fitted naturally into this way of thinking. This was one reason why, for about four decades from 1950, the capital which was transferred from the richer countries of the world to the poorer, which was critically important for development, was predominantly official capital. Another was the fact that for a long time after World War II, many developed countries (but not the United States) maintained controls over international capital movements, which were abandoned in the 1980s.

Keywords: Foreign Direct Investment; Stock Market; Financial Market; Capital Flow; Private Capital (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-59681-8_5

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DOI: 10.1057/9780230596818_5

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