chapter  8
20 Pages

Financial Resource Flows, the Exchange Rate, and Trade: Recent East Asian Experience

Less developed countries (LDCs) have for decades been shackled with the twin dilemmas of generous supplies of labor that possess varying degrees of attained skill levels, and a universal shortage of capital goods such as machinery, appropriate technology, and requisite managerial and entrepreneurial capabilities. Regarding the first dilemma, several indigenous organizations (especially nongovernmental organizations [NGOs]), as well as international agencies such as the United Nations Educational, Scientific, and Cultural Organization and the World Bank, have combined to upgrade literacy rates and provide a variety of technical training.