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Yugoslav External Debt: a Constraint for Macroeconomic Policy

In: Economic Development and World Debt

Author

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  • Mate Babić

Abstract

Generally, macroeconomic disequilibrium is the cause of foreign borrowing. Foreign borrowing permits a country to maintain domestic investment at levels beyond those that could be financed through domestic saving alone. It is this imbalance of domestic saving and investment that generates the external debt. Like many developing countries, Yugoslavia borrowed abroad to supplement her domestic savings to increase investments and accelerate her growth.

Suggested Citation

  • Mate Babić, 1989. "Yugoslav External Debt: a Constraint for Macroeconomic Policy," Palgrave Macmillan Books, in: H. W. Singer & Soumitra Sharma (ed.), Economic Development and World Debt, chapter 17, pages 219-224, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-20044-3_17
    DOI: 10.1007/978-1-349-20044-3_17
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