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| Tekijä: | Rogoff, K. |
| Otsikko: | Dealing with developing country debt in the 1990s |
| Lehti: | World Economy
1992 : JUL, VOL. 15:4, p.475-486 |
| Asiasana: | DEVELOPING COUNTRIES NATIONAL DEBT DEBT FINANCING IMF INVESTMENT LATIN AMERICA |
| Kieli: | eng |
| Tiivistelmä: | According to the World Bank the gross debt burden of the developing countries exceeded 1.3 billion dollars in 1990, and in many cases secondary market discounts remain enormous. The debt crises of this group of countries has hardly been resolved. The current state of debt dealings in light of some recent academic developments is assessed in the paper, and some suggestions for changing current official policy, especially for the World Bank and the international Monetary Fund are considered. The logic of the "debt overhang" theory, that argues that foreign debt burdens have crippled investment in the highly indebted countries, especially in Latin America, is reviewed and criticized. |
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