Sources of Debt Accumulation in a Small Open Economy

Sources of Debt Accumulation in a Small Open Economy
This paper analyzes the borrowing behavior of a small open economy of a developing country that relies heavily on imports for its capital formation and faces an upward-sloping supply function of foreign loans. Decision makers face uncertainty about the longevity of external shocks. That uncertainty generates forecast errors that lead to... READ MORE...

Publication date: October 1997
ISBN 9781451856606
$15.00

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