Economic stability, sound macroeconomic policies, and appropriate microeconomic incentives hold down a country's external debt burden. Most of the Asian countries pursued prudent macroeconomic policies, paid attention to price stability, and minimized price distortions. These countries avoided the overvalued exchange rates and uncompetitive interest rates that caused massive capital flight from Latin American and some African countries. The author...
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INFORMATION
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1991/10/31
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Document de travail de recherche sur les politiques
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WPS785
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1
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1
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2010/07/01
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How did the Asian countries avoid the debt crisis?
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general agreement on tariffs and trade
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