The purpose of this study is to analyze the elements that should underlie an appropriate foreign borrowing strategy and to suggest linkages with other macroeconomic policies. The methodology features the...
This paper evaluates Senegal's likely international creditworthiness over the medium and long terms, and assesses the likely consequences of projected levels of indebtedness on growth in real GDP and per...
This paper investigates the empirical significance of the rationing of credit to developing countries during the second half of the 1970's. It also identifies some determinants of the level of such rationing...
This paper surveys the literature on multiperiod models of foreign borrowing to shed light on the issues of how much a country should borrow and under what circumstances there is a role for public intervention...
This paper analyzes optimal foreign borrowing and investment in a two-period certainty model with traded and nontraded goods. The model illustrates how borrowing and investment interact with relative prices...
The past decade has been witness to a dramatic, qualitative change in the environment in which international capital movements between the developed and less developed world take place. This paper presents...
The growing volume of private commercial loans to LDCs has heightened concern about the ability of countries to service their accumulated external obligations on schedule, and reawakened interest in analyzing...