If the international development task must now consist primarily of helping developing countries to run successful market economies, the question is how this is to be done. International aid has mostly taken the form of financing governments and the change in the role of governments which the move to the market economy requires must also mean a change in the activities which aid finances. At the same time, if the private sector is to play the leading role in economic growth, much more attention needs to be focussed on aid to the private sector — a task which also needs careful definition. Aid needs to be re-invented.
KeywordsPrivate Sector Market Risk Recipient Country Bank Lending Wrong Kind
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