The efforts of the central banks of Western industrial countries to stabilize exchange rates following the Louvre Agreement demonstrated yet again how difficult it can be to influence events in the foreign exchange markets. What factors are currently affecting exchange rates? What significance...

The present financial policies of the developing countries are hardly likely to create favourable conditions for economic growth. A change can only be brought about if the financing of development projects and the imports of consumer goods can be successfully integrated in an overall plan for...