Researchers and public officials trying to improve economic performance in the postwar period believed that the core problem of development was the lack of sufficient monetary resources needed to build necessary physical infrastructure and to enhance investment in local economies (see Rostow 1960; Prebisch 1970; Huntington and Weiner 1987). If the problem was one of “missing money,” the proposed solution was to “send money.”
KeywordsPublic Good Moral Hazard Problem Local Public Good Perverse Incentive Adverse Selection Problem
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