United States Interest Rates and the Interest Rate Dilemma for the Developing WorldQuorum Books, 1986 - 230 pages A major economic dilemma for the developing world--how to achieve interest rate levels that are not inflationary but are high enough to encourage saving and domestic development--is brought into sharp focus by a leading economist with over twenty-five years experience working with third world governments. In this comprehensive analysis of the causes and international consequences of high US interest rates, Benoit thoughtfully considers many factors. Contrasting Islamic and Western banking practices; describing the real causes of the international debt crisis; revealing the strategies of creditor banks, debtor countries and others; and focusing particularly on Third World dependence on US economic health, the author offers an honest appraisal of the extent to which developing countries are responsible for their own predicament. He questions the basic premises underlying US and other aid policies and calls for increased efficiency, honesty, and self-reliance on the part of developing countries. |
Contents
United States Interest Rates and the International Debt | 3 |
Reasons for the Rise in United States Interest Rates Since | 6 |
United States Interest Rates and International Capital Flows | 13 |
Copyright | |
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Common terms and phrases
accounts administered interest rate aggregate annual Argentina artificially low average banking system billion bonds borrowing capital ceilings central bank century charging interest charging or taking commercial banks Corporation cost coun creditor banks currency debt crisis debt problem debtor countries depositors depository institutions deposits developing countries dollar domestic economic growth effect export external debt Faisal Islamic Bank Federal Reserve financial institutions foreign investors funds Haiti income increase industrialized countries interest payments interest rate system interest rates payable interest-free International Monetary Fund investment Islamic Development Bank issued Latin American countries lender lending at interest loans long-term monetary policy money supply Muslim operations percent period personal savings political prime rate profit prohibition rate of interest real interest rates reduce rescheduling riba riba banks savers savings banks sector securities shariah short-term social term trade Treasury United Kingdom United States interest usury yield zakat