Public Finance and Less Developed Economy: With Special Reference to Latin America

Public Finance and Less Developed Economy: With Special Reference to Latin America

by Paulus Antonius Maria Philips


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Public Finance and Less Developed Economy: With Special Reference to Latin America by Paulus Antonius Maria Philips

Since the end of the second world war special international interest has been devoted to the economically' underdeveloped countries. The question is, in what way can the welfare of these societies be rapidly increased and their standard of living raised. An enormous volume of literature on this subject has been published in the last decade and many international organi­ zations are engaged upon the study of the problem, which - to quote VAN BEUKERING - resolves itself into as many problems as there are underdeveloped areas 1. Much fruitful work has already been done in this field, and in some of the countries concemed the old economic tree has already put forth a few fresh shoots. Yet the problem of development in general is no new dis­ covery. Development in the sense of differentiation and speciali­ zation of man and forms of society 2 has, of course, always existed. The relations between human beings are reciprocal, as are those between nations. This reciprocal relationship is one of the most important characteristics of colonization, which is an expansion of social rather than of territorial boundaries.

Product Details

ISBN-13: 9789401502986
Publisher: Springer Netherlands
Publication date: 01/01/1957
Edition description: 1957
Pages: 185
Product dimensions: 6.10(w) x 9.25(h) x 0.02(d)

Table of Contents

I Some General Remarks about Less Developed Economies.- I. Developed and Underdeveloped Economies.- § 1. The distinction.- § 2. The objective.- § 3. The criterion for underdeveloped economies.- II. Sketch of the Social Framework of an Underdeveloped Economy.- §1. The model.- § 2. National income formation.- § 3. The socio-cultural, the institutional and the juridical climate.- § 4. Spending of national income.- § 5. Summary and conclusions.- III. Economic Development.- § 1. Introduction.- § 2. The initial stage, widening and deepening.- § 3. The transitional stage.- § 4. Economic order.- § 5. The problems involved.- II Problems of Public Finance in Less Developed Economies.- IV. Government and Economic Activity.- §L Preliminary remarks.- § 2. Dogmatic-historical evolution of conceptions of the government task.- § 3. Evolution of theoretico-economic views.- § 4. Long-term government policy.- § 5. Material content of the government function in an underdeveloped economy.- § 6. Further analysis of government activity.- v. Monetary Policy.- § 1. The monetary system and its consequences.- § 2. The ‘creation’ of money and the price level.- § 3. Supply of money and economic growth.- § 4. A more active monetary policy is required.- VI. Budget Policy as a Growth-Stimulating Instrument Par Excellence.- §1. Some general considerations.- § 2. The budget in an underdeveloped economy.- § 3. Government expenditure and economic growth.- VII. Government Loans.- §1. General remarks.- § 2. Domestic pubHc borrowing.- § 3. Foreign public borrowing.- § 4. A summing up — Possibilities.- VIII. Taxation in a Growing Economy.- § 1. The impact of taxation on growth.- §2. Direct taxation.- § 3. Taxation of exports.- §4. Indirect taxation.- § 5. Taxation and monetary stability.- § 6. Tax exemptions.- § 7. Concluding remarks.- IX. The Budget and Balanced Growth.- § 1. Introduction.- § 2. The impact of the budget on growth.- § 3. Optimum size and structure of the budget.- § 4. The budget and stability.- § 5. BUDGET EQUALIZATION FUND.- X. Inflation and Economic Development.- § 1. The problem.- § 2. Inflation as a politico-economic instrament.- § 3. Inflation and capital formation.- § 4. Cost of inflationary financing.- § 5. Summary and conclusion.- III Recapitulation of the Main Conclusions an Attempt at Synthesis.- XI Limits and Restrictions Imposed on the Traditional Budgetary and Monetary Policy in Less Developed Economies.- § 1. The problems.- § 2. Limits and restrictions.- XII. Budgetary and Monetary Policy in less Developed Economies.- §1. Development policy.- § 2. ‘Activating finance’.- § 3. Restrictions on ‘activating finance’.- § 4. ‘Backward capitalism’.

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