To spearhead development, the state needed power and resources. When additional powers were needed, the state simply arrogated them or secured them through a rubber-stamp parliament. Resources could be secured in a variety of ways:
Use of foreign exchange reserves
Windfall from a mineral export (diamonds, gold or oil)
KeywordsCentral Bank Foreign Exchange Development Finance Money Supply Budget Deficit
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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© George B. N. Ayittey 2005