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International Lending and Sovereign Debt in the Presence of Agency Costs: The Case of Mexico

In: The Changing Environment of International Financial Markets

Author

Listed:
  • Christopher A. Erickson
  • Elliott Willman

Abstract

For Mexico, the 1970s were a period of rapid economic progress. Between 1970 and 1980, real GDP per capita increased by an annual average of 3.4 per cent, real consumption per capita increased by 5.2 per cent, and fixed investment increased by 3.8 per cent.1 Moreover, given its large proven reserves, the increase in the world price of oil substantially increased Mexico's ability to generate current account surpluses.

Suggested Citation

  • Christopher A. Erickson & Elliott Willman, 1994. "International Lending and Sovereign Debt in the Presence of Agency Costs: The Case of Mexico," Palgrave Macmillan Books, in: Dilip K. Ghosh & Edgar Ortiz (ed.), The Changing Environment of International Financial Markets, chapter 11, pages 139-146, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23161-4_11
    DOI: 10.1007/978-1-349-23161-4_11
    as

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