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Foreign Loans and Development in the Twentieth Century India: An Over View of Conceptual Issues and Implications

Author

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  • Gadde OMPRASAD

    (Sikkim University, India.)

Abstract

The flow of foreign loans occupies a critical position in the economic development of the developing and under developed countries. Some writers view it in terms of the “dependency theory”, which states that foreign economic assistance is a tool through which the “center” exploits the “periphery” and so, the latter continues to remain undeveloped. Here, the center is donor and the periphery is the capital-receiving country. Less income levels, resources, inherited poverty, lack of good governance, political instability are some of the reasons for countries to inter into the trap of foreign loans. The article explains various definitions of foreign loans, its varieties and features. It examines into the needs which compels the countries go for foreign loans and also the donors, their characteristics and nature. Further it looks into the implications of foreign loan on the economy, social sector, agriculture, environment and politics of a country.

Suggested Citation

  • Gadde OMPRASAD, 2015. "Foreign Loans and Development in the Twentieth Century India: An Over View of Conceptual Issues and Implications," Journal of Economics Bibliography, KSP Journals, vol. 2(4), pages 220-230, December.
    • Handle: RePEc:ksp:journ6:v:2:y:2015:i:4:p:220-230
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    References listed on IDEAS

    as
    1. Graham Bird (ed.), 1989. "Third World Debt," Books, Edward Elgar Publishing, number 43.
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    More about this item

    Keywords

    Foreign loans; Debt; Development; Economy; Balance of payments; Donors; Social sector; Agriculture; Environment; Politics.;
    All these keywords.

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D69 - Microeconomics - - Welfare Economics - - - Other
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

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