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Growth, External Debt and Sovereign Risk in a Small Open Economy.
- Format:
- Book
- Government document
- Author/Creator:
- International Monetary Fund.
- Series:
- IMF Working Papers; Working Paper ; No. 1989/054
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (40 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 1989.
- Language Note:
- English
- Summary:
- This paper constructs and analyzes an optimizing model of a highly-indebted small open economy. An important innovation in the model is the incorporation of sovereign risk through the specification of an upward-sloping foreign debt supply function. The model is used to examine the interaction between external debt and growth in response to various policies and exogenous disturbances. It is shown that structural policies intended to reduce the fiscal deficit or increase productivity can lead to tradeoffs in their effect on capital accumulation and the stock of debt.
- Notes:
- Bibliographic Level Mode of Issuance: Monograph
- Description based on print version record.
- ISBN:
- 9781455276721
- 1455276723
- 9781462350025
- 146235002X
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