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Macroeconomics Commons

Open Access. Powered by Scholars. Published by Universities.®

Illinois Wesleyan University

2004

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Full-Text Articles in Macroeconomics

Local Initiatives And Imf Policies In Quito, Ecuador, Dionissi Aliprantis Jan 2004

Local Initiatives And Imf Policies In Quito, Ecuador, Dionissi Aliprantis

University Avenue Undergraduate Journal of Economics

If we are to define development as an increase in the freedoms people enjoy, then we may move beyond structural adjustments and foreign investment as means to create wealth in Ecuador and Latin America. Although not conclusively documented one way or the other [13], microlending is a promising path towards development from this perspective. At the very least, microlending offers hope to a segment of the population that would otherwise be disenfranchised. In Quito, Ecuador, microlending programs are creating wealth and expanding freedoms in a manner consistent with capitalism, while a good deal of IMF policies extract wealth from the ...