Abstract
It is axiomatic that a developing country, with a limited ability to increase domestic savings, may step up its rate of real economic growth by borrowing some of the savings of other countries to supplement its own. With these borrowings, such a country may increase its imports of goods and services to undertake additional development projects. As a result, a developing country attempting to step up growth is likely to have a deficit in the current account of its balance of payments and a net capital inflow.
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