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Economic Assistance to the Developing Countries

In: The Yen Appreciation and the International Economy

Author

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  • Dilip K. Das

Abstract

Although at present Japan is the largest bilateral donor to less developed countries (LDCs), only about a quarter of a century ago it was one of the largest recipients of bilateral (from the US) and multilateral (from the World Bank) economic assistance. Since Japan devised a perspicacious macroeconomic policy package and implemented it with admirable dexterity, and since there were measurable results to show for the external assistance, donor countries and organisations were eager to assist the Japanese economy. During the first half of the 1960s it was the second largest recipient of the World Bank fund after India. It borrowed large sums to build highways, electric power stations and the famous bullet train. The final repayment instalment to the World Bank was made in July 1990. Thus, in a short span of time Japan metamorphosed itself from a reconstructing, aid-recipient economy to the largest donor to LDCs.

Suggested Citation

  • Dilip K. Das, 1993. "Economic Assistance to the Developing Countries," Palgrave Macmillan Books, in: The Yen Appreciation and the International Economy, chapter 5, pages 143-171, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12812-9_5
    DOI: 10.1007/978-1-349-12812-9_5
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