✦ LIBER ✦

THE IRRELEVANCE OF MONEY COST IN FINANCING INTERNATIONAL DEFICITS

✍ Scribed by Mohan Khambadkone

Book ID: 110941744
Publisher: John Wiley and Sons
Year: 1971
Tongue: English
Weight: 421 KB
Volume: 24
Category: Article
ISSN: 0023-5962
DOI: 10.1111/j.1467-6435.1971.tb00157.x

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In most developing countries, neither corporate nor government bonds are traded on open markets. Indeed, corporate bonds simply do not exist in many developing countries. Typically, the commercial banks are captive buyers of low yielding domestic government bonds by virtue of liquidity ratio require