Financing Economic Development. Structural Approach to Monetary Policy

This book puts forward a `structuralist' theory of money and finance, derived from the classical tradition of development economics and opposed to the `New Orthodoxy' of the IBRD and the IMF. The four theoretical chapters cover theories of finance and money and analytical models of domestic stabilization policy and international capital flows. The use of flow-of- funds analysis and the social accounting matrix are discussed as a means of articulating the `accumulation account' of the UN/SNA with the rest of the economy. There are four case studies of Ecuador, Thailand, Mozambique and Nicaragua.