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The contrast is vivid. While the majority of people in the industrial world and some in the developing world enjoy unprecedented affluence, a far greater number of people in the low-income countries live in abject poverty. Although several devel[...]
Ke-Young Chu, Editor ; Richard Hemming, Editor | Washington : International Monetary Fund (IMF) | 1991Public expenditure is one of many forms of government intervention designed to compensate for the failure of competitive markets and to secure distributional equity. But while its justification lies in microeconomic concerns about resources allo[...]
