Over the past 25 years, significant levels of public debt and external finance are more likely to have enhanced macroeconomic vulnerability than economic growth in developing countries. This applies not just to countries with a history of high inflation and past default, but also to those in East Asia, with a long tradition of prudent macroeconomic policies and rapid growth. The authors examine why with the help of a conceptual framework drawn from...
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INFORMATION
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2005/08/01
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Document de travail de recherche sur les politiques
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WPS3674
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1
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1
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2010/07/01
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Disclosed
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Public debt in developing countries : has the market-based model worked?
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public debt
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