Choice Review

The title implies that this book treats solely the influence of money, interest, and banking on the economic-development process. The first third of the book, however, is simply a survey of rather esoteric economic models. Such models are grist for enthusiastic graduate students, but for the average academic reader do not shed much light on the processes that allow for economic development. The last two thirds of the work are descriptive and helpful. The descriptions of financial institutions in various developing countries provide background and specific bank operating procedures and policies along with the economic outcomes of each. Extensive references permit readers to search out authors writing about policies and events that are similar across the spectrum of many countries. The section on four high-growth developing countries is especially enlightening because it offers comparative statistics on all four and illuminates the banking policy differences among them. The volume of information makes reading difficult; clearly intended for faculty and graduate students. M. G. Ellis New Mexico State University