The flow of capital to Third World countries in recent years has been less than expected for realizing their growth objectives. As a consequence, efforts have been redoubled to attract capital in the form of direct investment. The World Bank has proposed the establishment of a multilateral guarantee scheme, encompassing as many investing and host countries as possible, to reduce the risks associated with overseas investment. The authors analyze and comment on the necessity and suitability of the World Bank proposal. They examine earlier proposals for setting up multi lateral guarantee schemes and the reasons for their failure, develop an eco nomic frame of reference for analyzing the new proposal, describe and examine the World Bank plan, and present alternatives to it. They pay particular attention to two major assumptions of the plan: that additional foreign investment capital for developing countries could be mobilized on a large scale if the investment risks were reduced, and that existing national insurance schemes display shortcomings that could be avoided in a multilateral system.
The subject of this book is accurately defined by its subtitle. Music in a New Found Land does not pretend to be a comprehensive history of American music. Nor does Mellers strive to catalog what he considers to be authentic American music. Instead, he deals, in some detail, with comparatively few composers, most of whom have wellestablished reputations. It has always been difficult to separate American music from its immediate relevance to the twentieth century. Mellers' theme involves the relationship between "art" music, jazz and pop music; he sees the segregation of these genres as both illogical and artifi cial. If the pop music of Tin Pan Alley may be anti-art, it has also produced Gershwin, Ellington, and composing improvisers such as Louis Armstrong, Charlie Parker, and Miles Davis. The study of American music is as relevant into any inquiry into a national culture as the study of American literature and painting. This book contains a large number of quotations from American writers, because Mellers thought American sensibility should parallel, reinforce, and comment on American music. In sum, this is the closest available one-volume history of American music, and a window into American culture.
The flow of capital to Third World countries in recent years has been less than expected for realizing their growth objectives. As a consequence, efforts have been redoubled to attract capital in the form of direct investment. The World Bank has proposed the establishment of a multilateral guarantee scheme, encompassing as many investing and host countries as possible, to reduce the risks associated with overseas investment. The authors analyze and comment on the necessity and suitability of the World Bank proposal. They examine earlier proposals for setting up multi lateral guarantee schemes and the reasons for their failure, develop an eco nomic frame of reference for analyzing the new proposal, describe and examine the World Bank plan, and present alternatives to it. They pay particular attention to two major assumptions of the plan: that additional foreign investment capital for developing countries could be mobilized on a large scale if the investment risks were reduced, and that existing national insurance schemes display shortcomings that could be avoided in a multilateral system.
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