The issue of capital flight from developing countries is discussed. The debt problems of developing countries coupled with the sharp decline in international lending to many countries have evoked great interest in the issue of private capital outflows, or capital flight, from these countries among international policymakers, academics, and in the general public. Residents of countries with exchange controls can purchase foreign exchange overseas by paying in local currencies, albeit at a higher cost than through official channels.

The enhancement of the IMF’s structural adjustment facility is discussed. In its April 1987 meeting, the IMF’s Interim Committee highlighted the plight of low-income countries, and outlined a strategy for their recovery. It emphasized that it is crucial for these countries to implement reforms that to be fully effective, will need to be accompanied by the timely provision of additional financing on appropriate concessional terms to support these reforms. The Committee also called upon creditor governments to grant exceptional relief with respect to official credits in highly indebted low-income countries.

This paper discusses the structural adjustment in low-income countries. In the first 20 months of its operations, the IMF’s structural adjustment facility (SAF) has provided concessional financial assistance to support the balance-of-payments adjustment efforts of 21 low-income member countries. Most SAF arrangements have supported policy reform programs that have also received support under other IMF facilities. The fundamental concept underlying the SAF is the notion that growth and adjustment are mutually reinforcing.

First published in 1989. This book considers two major aspect of China's economic reform: the 'open policy' towards the West, aimed at attracting technology and skills into the country and the emphasis on 'regionalization' which established market-orientated rather than bureaucratically-controlled patterns of economic development.

Volume I of the series on ASEAN-China Relations focused on trends and patterns in bilateral economic relations between ASEAN countries on the one hand, and China on the other. Volume II focused on macroeconomic and institutional developments in China and in selected sectors in ASEAN and China, and their implications for bilateral economic relations. This third volume focuses on developments in the global arena and in the Pacific and their impact on bilateral economic relations between ASEAN and China. The papers cover the following - economic developments in the Pacific region, the economic role of Japan and the United States, industrial restructuring in the Asian Newly Industrializing Economies, the special role of Hong Kong, prospects for Pacific economic cooperation, and China's membership in GATT.

Development Banking In India Is Almost As Old As India S Independence. The First Institution Established In The Field Of Development Banking Was The Industrial Finance Corporation Of India In 1948. After This Beginning, A Battery Of Development Banks Came To Be Established And Today A Well-Knit Structure Of About 50 Development Banks Exists, Both At The National And State Levels.This Book Attempts To Spell Out The Financial And Developmental Roles Of Development Banks With Special Reference To Idbi During About 40 Years Of Post-Independence Era. Whereas The Financial Role Highlights The Banking Support Provided By Them For The Programmes Of Industrialisation Of The Country, The Development Role Sets Forth Their Promotional And Entrepreneurial Activities Of Bringing Together The Various Elements Essential For The Industrial Development.The Study Also Provides Observa¬Tions On Some Of The Common Problems And Lecunae Of The Indian Development Banks And Proposes A Pattern On Which The Future Structure Of Development Banking In India May Be Modelled.The Book Would Be Of Use To Stu¬Dents Of Commerce, Management And Economics. It Can Also Be A Valuable Reference To Professionals In Banking And Allied Areas.

This book is a study of Third World economic development and the factors which have made development so elusive. It discusses the policy reform necessary to spur development as well as the relationship between development theory and policy. The author argues that the key to successful development policy is through reduced state intervention, and that to the extent state intervention is necessary, it should be through rather than against the market mechanism.

The books in this series aim to reflect the enormous economic and political changes that small and medium-sized nations in East and South-East Asia have been undergoing in the 1970s and 1980s and to show the impact of these changes on the world economy.