G2TT
来源类型Discussion paper
规范类型论文
来源IDDP461
DP461 Slow Growth and Large LDC Debt in the Eighties: An Empirical Analysis
Daniel Cohen
发表日期1991
出版年1991
语种英语
摘要This paper aims to disentangle the correlation between LDC debt and growth in the 1980s. We show that large debt was not an unconditional predictor of slow growth in the eighties and that investment was not abnormally low, when compared with a `financial autarky' rate, calculated in the text. We do find, however, that debt service crowded out investment. For the rescheduling countries we show that 1% of GDP paid abroad reduced domestic investment by 0.3% of GDP. This is shown to be consistent with the prediction of the theoretical model presented in the text, and identical to the correlation between investment and foreign finance observed in the 1960s.
主题International Macroeconomics
关键词Growth Ldc debt Rescheduling
URLhttps://cepr.org/publications/dp461
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/529645
推荐引用方式
GB/T 7714
Daniel Cohen. DP461 Slow Growth and Large LDC Debt in the Eighties: An Empirical Analysis. 1991.
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