Economic and Social Survey of Asia and the Far East 1966

image of Economic and Social Survey of Asia and the Far East 1966

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.



Domestic resources: Savings and financing

Development require the application of resources to capital formation and to the maintenance and expansion of services such as education, administration and research. The question as to the balance which is to be maintained between non-investment and investment expenditures where the former are primarily a charge on the state, points immediately to the dual aspect of the problem of raising resources: deciding upon the level of resources that might in principle be used to raise future income and consumption, and the location of these resources in the economy. Given the basic ignorance about how to raise the level, policy is heavily oriented towards transferring resources. Correct orientation is not synonymous with success in achieving the ultimate object of raising and distributing resources or with an energetic development and operation of the suitable fiscal and monetary mechanism.


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