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The transformation of external debt into long-term bonds

Author

Listed:
  • Paulo Nogueira Batista Jr.

Abstract

This paper offers a discussion of the proposal of securitization of external debtin the context of Brazilian economy. After analyzing many questions involved, the paperpresents a specific proposal of conversion of external debt into bonds with Iong term maturityand fixed interest rate. This proposal should reduce the external transfer of real resourcesand ecrease the outstanding of external debt and diminish the vulnerability of Brazilianeconomy to an increase in the interest rate as well. The paper presents also a simulation ofBrazilian Balance of Payments and key macroeconomics variables for the period 1988/92 inorder to evaluate the proposal. JEL Classification: H63; F34.

Suggested Citation

  • Paulo Nogueira Batista Jr., 1988. "The transformation of external debt into long-term bonds," Brazilian Journal of Political Economy, Center of Political Economy, vol. 8(3), pages 356-374.
    • Handle: RePEc:ekm:repojs:v:8:y:1988:i:3:p:356-374:id:1102
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1102/1087
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    More about this item

    Keywords

    External debt; capital flow; debt crisis; securities;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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