Poor countries can finance development through domestic money creation
Evidence
In reality, poor countries can finance their development without reducing their consumption and without relying on foreign capital. If you want to mobilise internal resources, the easiest way to do it is through money creation. Germany and China, two countries that have experienced rapid and spectacular economic progress, eloquently illustrate the power of money creation. — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 142
Categorization
- XREF: Germany and China’s state-led money creation parallels developmental-state economics and contradicts orthodox IMF prescriptions. — connects to: Financing local food production would save rather than deplete African foreign reserves; Poor countries can finance development through internal money creation.; Currency independence alone cannot succeed without a self-centred development model
Related
- Poor countries can finance development through internal money creation. (similarity 0.97)
- Financing local food production would save rather than deplete African foreign reserves (similarity 0.81)
- Germany’s postwar boom was financed by money creation, not foreign aid (similarity 0.79)
- Germany financed postwar reconstruction mainly through money creation, not household savings (similarity 0.78)