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| | Long-Term Finance |
 | | As Vaclav Havel suggested, if one is teaching someone to play chess, it is important to try to explain how to move the pieces, and to explain the strategy that is needed to win the game, rather than attempt to anticipate every essential circumstance. |
 | | So there was a subsidy, but it was small relative to some other countries directed credit programs, where the interest rate was considerably negative in real terms and the subsidy could be large. |
 | | In contrast, when governments in some developing countries decide to create a steel or automobile industry because the market is so small, there is only going to be one firm in the industry. |
| www.worldbank.org /mdf/mdf1/longterm.htm (1981 words) |
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