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The Latin American Debt Burden : Consequences For International Adjustment And Agricultural Trade

Author

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  • Grisgby, S. Elaine
  • Pagoulatos, Emilio

Abstract

This paper attributes the origins of the Latin American external debt problem to the oil price and real interest rate increases and debtor country and international bank policies. Next, it briefly examines the implications of economic adjustments to service the debt. Finally, in order to facilitate research on the linkages between debt and agricultural trade, the paper suggests some factors to consider in modeling import behavior and international borrowing.

Suggested Citation

  • Grisgby, S. Elaine & Pagoulatos, Emilio, 1986. "The Latin American Debt Burden : Consequences For International Adjustment And Agricultural Trade," 1986 Annual Meeting, July 27-30, Reno, Nevada 278399, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea86:278399
    DOI: 10.22004/ag.econ.278399
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    File URL: https://ageconsearch.umn.edu/record/278399/files/aaea-1986-116.pdf
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    References listed on IDEAS

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    1. Dornbusch, Rudiger, 1983. "Real Interest Rates, Home Goods, and Optimal External Borrowing," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 141-153, February.
    2. R. Dornbusch, 1984. "External Debt, Budget Deficits and Disequilibrium Exchange Rates," Working papers 347, Massachusetts Institute of Technology (MIT), Department of Economics.
    3. Jeffrey D. Sachs, 1981. "The Current Account and macroeconomic Adjustment in the 1970s," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 12(1), pages 201-282.
    4. Sundararajan, V., 1986. "Exchange rate versus credit policy : Analysis with a monetary model of trade and inflation in India," Journal of Development Economics, Elsevier, vol. 20(1), pages 75-105.
    5. Cline, William R, 1985. "International Debt: From Crisis to Recovery?," American Economic Review, American Economic Association, vol. 75(2), pages 185-190, May.
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    Cited by:

    1. Lopez Elena & Lopez Rigoberto A., 2017. "Introduction to the Special Issue in Honor of Professor Emilio Pagoulatos," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 15(2), pages 1-5, December.
    2. Arce-Diaz, Eduardo & Goodwin, Barry K., 1992. "Latin American External Debt and its Effects on U.S. Feed Grain Exports," WAEA/ WFEA Conference Archive (1929-1995) 321342, Western Agricultural Economics Association.

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