World Economic Survey 1965

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Part one: The Financing for Development, deals with an issue that has been a matter of long-standing concern in various United Nations bodies, namely the financing of economic development. The Survey discusses the problem of increasing the volume of savings available to the developing countries, examining trends and sources of savings in the period 1953-1955 to 1962-1964. Finally, the Survey offers a perspective on economic development financing. Part two: Current Economic Developments, discusses the economic events of 1965 and early 1966, summarizing the principal developments in the world economies, including the major developments in the industrially advanced market economies that led to the adoption of disinflationary policy in some and deterioration in the external balance in others. The Survey also highlights the current developments in the centrally planned countries and reviews the new five-year plans of economic development.



Financing investment in the developing countries

Ranking high among the conditions that must be met before a developing country can cross the threshold into self-sustaining growth is the availability of an adequate volume of saving to make possible the required level of capital formation. But many things other than capital are necessary to achieve economic growth. Indeed, unless it is backed by an appropriate array and quantity of complementary factors (human skills and knowledge and raw materials, energy and other resources) and unless it operates in an appropriate environment (with reasonably stable social and political conditions and an adequately motivated population), capital is unlikely to be very productive.


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