Foreign Capital as an Instrument of National Economic Policy: A Study based on the Experience of East European Countries between the World Wars

Front Matter....Pages I-XIV
Front Matter....Pages 1-1
The Background....Pages 3-6
The Scope of this Study....Pages 7-11
The Method....Pages 12-14
Front Matter....Pages 15-17
The Contribution of Foreign Capital to Stabilization (1918–25)....Pages 18-32
Capital Movements and Levels of Economic Activity before the Great Depression (1925–30)....Pages 33-43
Consequences of the Collapse of International Capital Markets during the Great Depression (1930–39)....Pages 44-54
Conclusion: Net Gains in a Dynamic Setting....Pages 55-56
Front Matter....Pages 57-60
Criteria for Appraising the Efficiency of Allocation of Foreign Capital....Pages 61-65
Allocation of Public External Loans....Pages 66-70
Allocation of Private External Loans....Pages 71-75
An Appraisal of Allocation of Foreign Capital....Pages 76-80
Allocation of Capital under the Test of Rapidly Changing Economic Conditions....Pages 81-85
Front Matter....Pages 87-90
Economic Adjustments from the Standpoint of External Balances....Pages 91-103
Capital Movements and Exchange Stability....Pages 104-110
Problems of Debt Servicing....Pages 111-121
Front Matter....Pages 123-125
Historical Summary and Analytical Conclusions....Pages 126-138
Some Broader Aspects of International Finance....Pages 139-145
Back Matter....Pages 146-156