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Global Capital Flows

In: First World, Third World

Author

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  • William Ryrie

Abstract

As I have pointed out, the international aid movement arose in the post-war period at a time when economic thinking in the industrial countries was more interventionist than before or since. There was a greater inclination to believe that economic growth could be engineered by governments through planning and management of their economies, including financial markets. Aid, as an activity of governments, fitted naturally into this way of thinking. This was one reason why, for about four decades from 1950, the capital which was transferred from the richer countries of the world to the poorer, which was critically important for development, was predominantly official capital. Another was the fact that for a long time after World War II, many developed countries (but not the United States) maintained controls over international capital movements, which were abandoned in the 1980s.

Suggested Citation

  • William Ryrie, 1999. "Global Capital Flows," Palgrave Macmillan Books, in: First World, Third World, edition 0, chapter 5, pages 94-107, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59681-8_5
    DOI: 10.1057/9780230596818_5
    as

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