Foreign Trade, Aid and Economic Growth in Less-Developed Countries by Gunnar Floystad. Oslo: Scandinavian University Books, Universitetsforlaget, 1968.

Mohammad Anisur Rahman


Gunnar Floystad's Foreign Trade, Aid and Economic Growth is
concerned with the interrelations between foreign trade, foreign aid and
economic growth of a group of less developed countries (LDC) comprising
all of Latin America, Africa, the Middle East and Asia, excluding USSR,
Japan and Mainland China. The book is divided into two parts: Part One
uses a model of trade, aid and growth to deduce a relationship between
GNP, exports and net capital inflows of the LDC. Assuming exports to be
given exogenously and net capital inflows to grow at a constant rate
over time, growth of GNP is projected corresponding to alternative
postulates about growth of exports and growth of net capital inflows via
the simple exponential function, E(t) = M0 [X(t) + B(t)]B, where E, X
and B stand for GNP, exports and net capital inflows respectively, and
M<> is a constant. Part Two analyses in some details the export
prospects for a list of traditional products currently exported from LDC
to developed countries.

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