ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Trade, Foreign Capital and Development

Foreign trade and foreign private capital were earlier thought to have no role to play in development. Today they are thought to have rather important roles. On the other hand, foreign aid was earlier thought to have an important role while "aid pessimism" dominates development thinking today. This paper examines afresh the extent to which foreign trade, foreign private capital and foreign aid are helpful or unhelpful for development in labour-surplus dual economies. It concludes that managed trade is generally helpful while foreign private capital and foreign aid can be helpful only under certain rather special conditions.

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