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Foreign Capital, Dependence, Destabilisation and Feasibility of Transition to Socialism

Jagdish N. Bhagwati; Earl L. Grinols

Title:
Foreign Capital, Dependence, Destabilisation and Feasibility of Transition to Socialism
Author(s):
Bhagwati, Jagdish N.
Grinols, Earl L.
Date:
Type:
Articles
Department(s):
Economics
Volume:
2
Persistent URL:
Book/Journal Title:
Journal of Development Economics
Abstract:
The paper analyses the argument that external capital inflow could create dependence and thus sabotage the possibility of a successful transition to socialism. The formal model deployed is of the Harrod-Domar variety and simulation run are undertaken for five underdeveloped countries, using savings functions estimated by Weisskopf. The conclusions lend some support to radical concerns about the adverse effects of foreign aid on recipient countries.
Subject(s):
Economics
Publisher DOI:
https://doi.org/10.1016/0304-3878(75)90009-7
Item views
78
Metadata:
text | xml
Suggested Citation:
Jagdish N. Bhagwati, Earl L. Grinols, , Foreign Capital, Dependence, Destabilisation and Feasibility of Transition to Socialism, Columbia University Academic Commons, .

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