The Central Bank of Estonia hosted the presentation of two books examining the theories and legacy of Ragnar Nurkse, including his influence on the postwar international financial system and his views on capital formation in less developed economies. Ragnar Nurkse and the Making of the Bretton Woods Paradigm, by Ivo Maes and Ilaria Pasotti, traces how Nurkse’s analysis of interwar financial and economic shocks informed ideas underpinning the Bretton Woods system. The second book presents Estonian translations of six lectures delivered by Nurkse in 1951, in which he argued that effective fiscal and monetary policy should encourage the saving needed for capital formation, while private businesses undertake investment and banks connect the state with investing companies.
Central Bank of Estonia hosts presentation of two books on Ragnar Nurkse’s economic legacy
The Central Bank of Estonia hosted the presentation of two books on Ragnar Nurkse’s contribution to the postwar financial system and economic development theory. The works examine his influence on the Bretton Woods framework and his argument that fiscal and monetary policy should support saving for capital formation.