01614cas a2200229 a 4500 AALejournalIMF011526 230101c9999 xx r poo 0 0eng d 9781616353032 0145-1707 BD-DhAAL BD-DhAAL International Monetary Fund. External Relations Dept. Finance and Development, June 1971. Washington, D.C. : International Monetary Fund, 1971. 1 online resource (61 pages) Finance and Development <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the difference between 'capital' and 'investment' for developing countries. The paper highlights that investment in material capital is merely one of the factors involved in economic development and that current expenditures on health, education, agricultural extension, family planning, research, management training, and so on, may be equally important or even more important than investment in capital. The paper offers a brief historical survey, drawing attention to factors leading to the development of a market where savers and investors are brought together. Mode of access: Internet Finance and Development; Finance and Development ; No. 0008/002 Full text available on IMF http://elibrary.imf.org/view/journals/022/0008/002/022.0008.issue-002-en.xml IMF e-Library