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Inflow of Financial Resources and Economic Growth

In: Migration of Financial Resources to Developing Countries

Author

Listed:
  • Dilip K. Das

Abstract

If any one scarce factor associated with underdevelopment should be singled out, it would indisputably be capital. This being said, it would be an over-simplification to regard economic growth as a matter of capital accumulation alone. Other factors are needed in addition, but economic growth is seldom possible without some increase in the stock of capital. An empirical study shows that compared to the US and north-western Europe, capital investment has been a more important source of growth for the developing countries (LDCs) of today.1 For a great many of the LDCs, the inner mechanics of take-off involve a problem of capital formation, for which there are materially two ways: domestic savings and inflow of foreign resources.

Suggested Citation

  • Dilip K. Das, 1986. "Inflow of Financial Resources and Economic Growth," Palgrave Macmillan Books, in: Migration of Financial Resources to Developing Countries, chapter 2, pages 22-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-18291-6_2
    DOI: 10.1007/978-1-349-18291-6_2
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