Structural Change, Economic Interdependence and World Development: Volume 2 Natural and Financial Resources for Development

468 Pages·1987·38.983 MB·English

by  Professor Silvio Borner, Dr Alwyn Taylor (eds.)

STRUCTURAL CHANGE, ECONOMIC INTERDEPENDENCE
AND WORLD DEVELOPMENT
VOLUME 2 NATURAL AND FINANCIAL
RESOURCES FOR DEVELOPMENT
STRUCTURAL CHANGE, ECONOMIC
INTERDEPENDENCE AND WORLD DEVELOPMENT
Victor L. Urquidi (editor)
1 BASIC ISSUES
Silvio Borner and Alwyn Taylor (editors)
2 NATURAL AND FINANCIAL RESOURCES FOR
DEVELOPMENT
Luigi Pasinetti and Pete r Lloyd (editors)
3 STRUCTURAL CHANGE AND ADlUSTMENT IN THE
WORLD ECONOMY
lohn H. Dunning and Mikoto Usui (editors)
4 ECONOMIC INTERDEPENDENCE
Structural Change,
Economic
Interdependence and
World Development
Proceedings of the Seventh World Congress of the
International Economic Association, Madrid, Spain
Volume 2
NATURAL AND FINANCIAL RESOURCES FOR
DEVELOPMENT
Edited by
Silvio Borner and Alwyn Taylor
Palgrave Macmillan
ISBN 978-1-349-09119-5 ISBN 978-1-349-09117-1 (eBook)
DOI 10.1007/978-1-349-09117-1
© International Economic Association, 1987
Softcover reprint of the hardcover 1st edition 1987 978-0-333-42845-0
All rights reserved. For information, write:
Scholarly & Reference Division,
St. Martin's Press, Inc., 175 Fifth Avenue, New York, NY 10010
First published in the United States of America in 1987
ISBN 978-0-312-00416-3
Library of Congress Cataloging-in-Publication Data
International Economic Association. World Congress
(7th : 1983 : Madrid, Spain)
VII World Congress of the International Economic
Association, Madrid, September 1983.
Includes index.
Contents: - v. 2. Natural and financial
resources for development.
I. Economic history-1971- -Congresses.
2. Economic development-Congresses. 3. Developing
countries-Economic policy---;-Congresses. 4. Natural
resources-Developing countries-Congresses.
5. Finance-Developing countries-Congresses.
I. Borner, Silvio. II. Taylor, Alwyn. III. Title.
IV. Title: 7th World Congress of the International
Economic Association, Madrid, September 1983.
V. Title: Seventh World Congress of the International
Economic Association, Madrid, September 1983.
HC13.1547 1983a 330.9 86-26311
ISBN 978-0-312-00416-3 (v. 2)
Contents
Preface VllI
Acknowledgements IX
List of Contributors X
Scientific Programme Committee xi
Abbreviations and Acronyms xii
1 Introduction Silvio Borner and Alwyn Taylor 1
PART I NATURAL RESOURCES AND THE
ENVIRONMENT
2 Introduction to Part I T. S. Khachaturov 7
3 Incorporating the Environment in Development
Planning Charles Pearson and Maynard Hufschmidt 19
4 Natural Resources and Socio-economic Effects of
Recycling A. Lukaszewicz 35
PART II THE WORLD FOOD SITUATION AND
PROSPECTS
5 Introduction to Part 11 N. Islam 51
6 The World Food Situation G. Edward Schuh 65
7 World Food Prospects till 2000 Hans Linnemann 87
8 Food Security: A Stabilisation Problem for Developing
Countries Alberto Valdes 105
PART III ECONOMIC ASPECTS OF
INTERNATIONAL MIGRATION
9 Introduction to Part 111 R. Tabbarah 127
v
VI Contents
10 Socio-economic Issues Arising from Immigation in
Receiving Countries Mary Kritz 141
11 Contribution of Workers' Remittances to
Development T. Alexander KjurCiev 159
PART IV ECONOMIC IMPACT OF THE ARMS
INDUSTRY
12 Introduction to Part IV Christian Schmidt 175
13 The Evaluation of Efficiency in the Arms
Industry Keith Hartley 181
14 Arms Industry Unlimited: The Economic Impact of the
Arms Sector in Developing Countries Herbert Wul! 203
15 A Game-theoretic Analysis of the Role of the Arms
Industry in the International Security System Michael D.
Intriligator and Dagobert L. Brito 219
16 Defence Industrialisation, Technology Transfer and the
Choice of Techniques in LDCs Saadet Deger and
m
~~
17 Alternative Approaches to the Arms Industry: Some
Suggestions for a Research Programme Christian Schmidt 255
PART V CAPITAL NEEDS AND CAPITAL
MARKETS
18 Introduction to Part V J. B. Donges 267
19 Capital Needs of the Developing Countries in the
Eighties Helen Hughes 275
Contents VB
20 International Investment Cooperation within the
CMEA Area C. Luft and Lutz Maier 301
PART VI FOREIGN INDEBTEDNESS, EXCHANGE
RATES AND THE MONETARY SYSTEM
21 Introduction to Part VI Alwyn Taylor 323
22 Africa and the International Monetary
System G. O. Nwankwo 337
23 International Interdependence and the Debt
Problem M. Panic and M. S. Kumar 359
24 Latin American Foreign Debt; Problems and
Prospects A. Ferrer 381
25 Inßationary Expectations and Price Interdependence
under Floating Exchange Rates J. Ahmad 395
PART VII INTERNATIONAL FINANCING FOR
DEVELOPMENT
26 Introduction to Part VII Silvio Borner 407
27 Financial Flows to Developing Countries: Trends, Problems
and Future Outlook He/mut W. Mayer 411
28 International Financial and Goods Markets in 1982-3
and Beyond C. F. Diaz-Alejandro 429
29 Direct Foreign Investment and Alternative Forms of
External Non-concessional Finance for Developing
Countries G. K. Hel/einer 445
Index 467
Preface
The Seventh World Congress of the International Economic
Association was held in Madrid from 5-9 September 1983 on the
subject of 'Structural Change, Economic Interdependence and World
Development'. It covered a wide variety of topics and was designed
to elucidate issues of concern in economies of all types: market
orientated and centrally planned; developed and developing; and at
aII levels of industrialisation. There was wide participation in the
Congress both on a geographical basis and from the point of view of
different schools of thought and methodology. The Congress opened
and cIosed with plenary sessions, and in between was aseries of
sixteen specialised sessions and a number of round table discussions.
It has not been· possible to publish all the papers presented, but
incIuded in the four volumes are those which give a fair
representation of the views expressed. These papers are
supplemented by comments from the organisers of the sessions which
include some report of the discussions which took place.
The proceedings are divided into four volumes as folIows:
1. Basic Issues, edited by Victor L. Urquidi;
2. Natural and Financial Resources tor Development, edited by
Silvio Borner and Alwyn Taylor;
3. Structural Change and Adjustment in the World Economy, edited
by Luigi Pasinetti and Peter LIoyd;
4. Economic Interdependence, edited by John H. Dunning and
Mikoto Usui.
The Congress was held with the cooperation of the Consejo
General de Colegios de Economistas de Espanä, the Association's
member body from Spain.
viii
Acknowledgements
The Seventh World Congress of the IEA, which took place in
Madrid, was honoured by the patronage of His Majesty King Juan
Carlos, and we wish to express our sincere thanks to hirn for his
support.
The General Council of the Colleges of Economists of Spain was
the principal organisation which made this Congress possible, and by
the tireless efforts of its members, by its financial support, and not
least by its hospitality to this international gathering, ensured its
success.
Financial and practical support and hospitality came also from the
Autonomous Governments of Euzkadi and Madrid, from the
Municipal Government of Madrid, from the Government of Spain,
and from a number of other public and private organisations which
we would especially mention:
Ministerio de Economia y Hacienda
Ministerio de la Presidencia
Banco de Espaöa
Banco de Credito Industrial
Banco de Credito Local
Banco de Credito Agricola
Banco Hipotecario de Espaöa
Banco Exterior de Espaöa
Consejo Superior Bancario
Comunidad Autonoma de Madrid
Instituto de Cooperacion Iberoamericana Iberia
Banco de Bilbao
Confederacion Espaöola de Cajas de Abhorros
Caja de Ahorros y Monte de Piedad de Madrid
Caja Postal de Ahorros
We wish to express our gratitude to all who participated in making
this Congress a memorable and fruitful experience.
Lastly to UNESCO whose continuing support makes these
meetings possible, we express our continuing appreciation.
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