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Private Direct Investment, Finance and Development

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  • Constantine Michalopoulos

Abstract

For countries embarking on development, foreign direct investment has for a long time provided needed capital, technical know-how and managerial expertise. During the 1970s, however, its role as a source of finance for development was overshadowed by the spectacular increase in commercial bank lending to developing countries. In the early and mid-1980s, as new voluntary commercial bank lending was sharply curtailed and many developing countries continued to encounter difficulties in servicing past debt, and as prospects for significant increases in official development assistance dwindled, interest has again been directed to increase foreign private investment as a means of development finance…

Suggested Citation

  • Constantine Michalopoulos, 1985. "Private Direct Investment, Finance and Development," Asian Development Review (ADR), World Scientific Publishing Co. Pte. Ltd., vol. 3(02), pages 59-71.
    • Handle: RePEc:wsi:adrxxx:v:03:y:1985:i:02:n:s0116110585000082
    DOI: 10.1142/S0116110585000082
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