Год издания: 2003
В продаже с 18.01.2012
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Book DescriptionSince the late 1990s, an essential shift has taken place in the pattern of private sector financial flows to developing countries. Debt flows have fallen sharply, while equity flows--primarily in the form of foreign direct investment--have remained comparatively robust. The shift from debt to equity ought to diminish the volatility of developing countries' external finance and improve their access to technology, markets, and management expertise. However, much more needs to be done to putdevelopment finance on a stable basis. The report finds that an actual global business cycle has emerged with the continuing integration of developing countries into global production, trade, and financial flows. Economic conditions in rich countriesnow tend to be mirrored in developing countries through strengthened trade links, just-in-time logistics, and stronger financial relations with affiliates and suppliers in middle-income countries. Global Development Finance 2003 is...