Economic Interdependence and the International Implications of Supply-Side Policies

Nopic
This paper evaluates the effect of foreign debt on investment in a heavily-indebted country, using numerical simulations of a simple rational expectations growth model. Two particular effects are distinguished. First, the effect due to "debt overhang" of past accumulated debts; and second, the effect of "credit rationing" or inability to obtain... READ MORE...

Publication date: September 1989
ISBN 9781451957860
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