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Basics, non-basics, money and credit : a development perspective

Author

Listed:
  • Amelia Correa

    (Department of Economics, St. Andrew’s College, Bandra (West), Mumbai, India)

  • Romar Correa

    (Department of Economics, St. Andrew’s College, Bandra (West), Mumbai, India)

Abstract

We approach the developing economy through an agriculture/industry and basics/ non-basics demarcation. A Classical-Keynesian rationale for the high interest rates in the country and low interest rates in the town is provided. The institutional requirement is for a strongly inequality-reducing state, intervening in the financing and production of basics and, correspondingly, setting in place disincentives to the production of non-basics.

Suggested Citation

  • Amelia Correa & Romar Correa, 2004. "Basics, non-basics, money and credit : a development perspective," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 41(2), pages 93-102, December.
    • Handle: RePEc:phs:prejrn:v:41:y:2004:i:2:p:93-102
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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/174/581
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    More about this item

    Keywords

    Basics; non-basics; interest rates;
    All these keywords.

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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