Journal Issue
Finance & Development, December 1979

Index 1979 Volume 16

International Monetary Fund. External Relations Dept.
Published Date:
December 1979
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Finance & Development


The anguish of central banking Gordon Williams December

Breakup of the East African Community Sena Eken December

Countering the new protectionism Robert McNamara September

Country experience in providing for basic needs Frances Stewart December

Developments in the world economy September

The economic dimensions of malnutrition in young children Shlomo Reutlinger and Marcelo Selowsky June

Exchange rate policy: some current issues Morris Goldstein and John H. Young March

Extraordinary inflation: the Argentine experience Ke-Young Chu and Andrew Feltenstein June

Financing education for income distribution Jean-Pierre Jallade March

The fight against inflation Norman K. Humphreys December

Fiscal policy in oil exporting countries, 1972–78 David Morgan December

Forests in development John Spears and Montague Yudelman December

From growth to basic needs Paul Streeten September

From Marshall Plan to global interdependence (review article) Barbara Ward September

The Fund’s Interim Committee—an assessment Joseph Gold September

Government and public enterprises—the budget link A. Premchand December

Labor market developments in the major industrial countries Michael Deppler and Klaus Regling March

The liquidity of the International Monetary Fund David S. Cutler June

The Multilateral Trade Negotiations—a background note Mark Allen September

Multinationals revisited (review article) Paul Streeten June

A new approach to the economic analysis of projects Anandarup Ray and Herman G. van der Tak March

Offshore banking centers: benefits and costs Ian McCarthy December

Potential and actual output in industrial countries Jacques R. Artus June

Prospects for oil and gas production in the developing world Efrain Friedmann and Raymond Goodman June

A recognition of interdependence—UNCTAD V Mahmud A. Burney September

A revisit to rural development in Eastern Africa Uma Lele December

The SDR as an international unit of account Walter O. Habermeier March

Setting an agenda for the 1980s Monica C. Gruder December

The structure of the Fund Joseph Gold June

The three tiers of “basic needs” for rural development Hernán Santa Cruz June

Toward a solution of international economic problems Jacques de Larosière September

The underfinancing of recurrent development costs Peter Heller March

World Development Report 1979—main themes Johannes Linn and Lyn Squire September

World energy prospects and the developing world Adrian Lambertini December

The World Bank and the world’s poorest: IV-VII

• The problem of water supply and waste disposal Yves Rovani March

• The Bank and the development of small enterprises David L Gordon March

• Education lending for the poor Abdun Noor June

• Impact of the Bank’s rural development lending Montague Yudelman September

Book notices

Blackhurst, Richard, Nicolas Marian, and Jan Tumlir, Trade Liberalization, Protectionism, and Interdependence reviewed by Roy C. Baban March

Buchanan, James. M. and Richard E. Wagner, Fiscal Responsibility in Constitutional Democracy reviewed by C. I. Wallich December

Development Assistance Committee, Development Cooperation reviewed by Peter Wright September

Fabre, Renaud, Paysans sans terres reviewed by Jacques Tillier September

Galbraith, John Kenneth, The Nature of Mass Poverty reviewed by Subimal Mookerjee December

Geiger, Theodore, Welfare and Efficiency: Their Interactions in Western Europe and Implications for International Economic Relations reviewed by Paul Holden December

Hirsch, Fred and John H. Goldthorpe (editors), The Political Economy of Inflation reviewed by L A. Whittome September

Hunter, J. S. H., Federalism and Fiscal Balance reviewed by C. I. Wallich December

Jud, Gustav Donald, Inflation and the Use of Indexing in Developing Countries reviewed by Anand G. Chandavarkar June

Mclaughlin, Martin et al, The United States and World Development Agenda 1979 reviewed by Peter Wright September Oberai, A. S., Changes in the Structure of Employment with Economic Development reviewed by Deepak Lai March

Palmer, John L. and Joseph A. Pechman (editors), Welfare in Rural Areas: The North Carolina-Iowa Income Maintenance Experiment reviewed by Uma Lele June

Pearson, Charles and Anthony Pryor, Environment North and South: An Economic Interpretation reviewed by Robert Goodland March

Sarnat, Marshall (editor), Inflation and Capital Markets reviewed by Anand G. Chandavarkar June

Standing, Guy, Labour Force Participation and Development reviewed by Deepak Lai March

Standing, Guy and Glen Sheehan (editors), Labour Force Participation in Low Income Countries reviewed by Deepak Lai March

New Books: from the World Bank

Economic Growth and Employment in China

Thomas G. Rawski

During the past two decades, the world’s largest developing nation has made significant strides toward full employment for its labor force of nearly half a billion persons. Despite increasing requirements for manpower in the industrial and service occupations, these sectors have been able to absorb only a small fraction of the new entrants into China’s labor force. As a result, the labor-rich farm sector has had to assimilate nearly 100 million additional workers since 1957, using programs of mechanization, agricultural intensification, and rural construction. In addition, throughout this period the level of average labor productivity has not declined. This book investigates how this feat was accomplished, looks to the future labor situation, and relates China’s experience to that of other countries.

Contents: An Overview - Size and Sectoral Distribution of China’s Labor Force in 1957 and 1975 - Determinants of Industrial Employment - Labor Absorption in Agriculture from 1957 to 1975 - Retrospect and Prospect - Appendixes: Chinese Economic Statistics; Derivation of Estimated Non-agricultural Employment, 1957 and 1975; Employment in Leading Small-Scale Producer-Goods Industries, 1975.

208 pages; maps; bibliography; index. Cloth $12.50 (£5.75); paperback $4.95 (£2.50).

Structural Change and Development Policy

Hollis Chenery, with the assistance of Hazel Elking-ton, and including contributions by Montek S. Ahluwalia, Michael Bruno, Nicholas G. Carter, Arthur MacEwan, William J. Raduchel, Alan M. Strout, and Larry E. Westphal

The development process involves long-term changes in production, investment, trade, employment, and income distribution. Now that many poor countries are well on the way to development, their policymakers must manage the structural changes needed to sustain this growth and to distribute its benefits more equitably.

The need to restructure the world economy also lies at the heart of the debate over the international economic order.

This book both represents a retrospective re-evaluation of Hollis Chenery’s thought and writing over the past two decades and an extension of his work in Redistribution with Growth (1974) and Patterns of Development (1975). Chapters on the structural characteristics of individual countries or groups of countries lead up to a systematic analysis of the internal and external aspects of structural change that affect the design of policy. The author develops a set of techniques for analyzing these structural changes and applies them to some major problems of developing countries today. The text is organized in four sections: “A Framework for Policy,” “Internal Structure,” “External Structure,” and “International Development Policy.”

The conclusions that emerge from these studies include generalizations about individual phenomena—such as the sources of industrialization, the effects of economies of scale on resource allocation, and the productivity of external resources—as well as evaluations of development strategy in different kinds of countries, such as small primary exporters and large semi-industrial economies. Both kinds of analyses will be of great assistance to the policymaker.

Contents: Economic Growth and Structural Change - Models of the Transition - The Process of Industrialization - Substitution in Planning Models - The Interdependence of Investment Decisions - Economies of Scale and Investment over Time - Comparative Advantage and Development Policy - Development Alternatives in an Open Economy: The Case of Israel - Optimal Patterns of Growth and Aid: The Case of Pakistan - Foreign Assistance and Economic Development - Growth and Poverty in Developing Countries.

544 pages; bibliography; index. Cloth $14.50 (£6.50); paperback $5.95 (£2.75).

Both books are published by Oxford University Press and are available through booksellers; from the Press (200 Madison Avenue, New York, N.Y. 10016, U.S.A., or Press Road, Neasden, London NW10 ODD, England); or from Oxford branches and distributors throughout the world.



November 1979

Revised Sector Policy Paper draws on experience gained from health components of 70 projects in 44 countries between 1975 and 1978. Emphasizes the disproportionately high expenditures incurred on curative medicine, maintenance of expensive hospitals, and sophisticated training of medical personnel at the cost of preventive care for the majority of the people. Points out that low-cost health care systems are feasible and recommends that the Bank begin regular and direct lending for health, in addition to health components of projects in other sectors.

Recognizing the “Invisible” Woman in Development: The World Bank’s Experience

October 1979

Booklet describes some of the economic and social factors that limit opportunities for women in developing countries. Cites efforts made to open up opportunities for them in Bank projects. Stresses the need for more information on the roles of women early on in the project cycle for incorporation in project design.

Copies of the publications listed above are available free of charge from the World Bank, Publications Unit, 1818 H Street, N.W., Washington, D.C., 20433, U.S.A.

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