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Trade And Growth Of Developing Countries Under Financial Constraint

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  • Shane, Mathew D.
  • Stallings, David

Abstract

International trade and growth will be severely affected by the debt problems of the developing countries for at least the next 5 years. International trade will not significantly increase for the United States or other nations unless both the developed and developing countries find fundamental solutions and take aggressive action to overcome this situation. The accumulation of international debt by the developing world was initiated after the first oil shock in 1973-74 when OECD countries accommodated the first increases in oil prices by allowing international liquidity to increase accordingly. The recirculation of this liquidity led to the debt buildup. The contractionary monetary policy response to the second oil shock of 1979-80 led to the current debt payment problem.

Suggested Citation

  • Shane, Mathew D. & Stallings, David, 1984. "Trade And Growth Of Developing Countries Under Financial Constraint," Staff Reports 277602, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:277602
    DOI: 10.22004/ag.econ.277602
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    References listed on IDEAS

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    1. Shane, Mathew, 1974. "Capital Markets and the Dynamics of Growth," American Economic Review, American Economic Association, vol. 64(1), pages 162-169, March.
    2. Abbott, Philip C., 1984. "Foreign Exchange Constraints to Trade and Development," Foreign Agricultural Economic Report (FAER) 147529, United States Department of Agriculture, Economic Research Service.
    3. Mr. Ulrich Baumgartner & Mr. G. G. Johnson & K. Burke Dillon & R. C. Williams & Mr. Peter M Keller & Maria Tyler & Bahram Nowzad & Mr. G. Russell Kincaid & Mr. Tomás Reichmann, 1981. "External Indebtedness of Developing Countries," IMF Occasional Papers 1981/002, International Monetary Fund.
    4. Gerrard, Christopher D. & Roe, Terry, 1983. "Government intervention in food grain markets : An econometric study of Tanzania," Journal of Development Economics, Elsevier, vol. 13(1-2), pages 109-132.
    5. Jabara, Cathy L., 1980. "Terms of Trade for Developing Countries: A Commodity and Regional Analysis," Foreign Agricultural Economic Report (FAER) 146907, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. Hiemstra, Stephen W. & Shane, Mathew, 1988. "Monetary Factors Influencing GATT Negotiations on Agriculture," Foreign Agricultural Economic Report (FAER) 147990, United States Department of Agriculture, Economic Research Service.
    2. Edwards, Clark, 1985. "U.S. Agriculture's Potential to Supply World Food Markets," Agricultural Economic Reports 307995, United States Department of Agriculture, Economic Research Service.
    3. Shane, Mathew & Stallings, David A., 1984. "Financial Constraints to Trade and Growth: The World Debt Crisis and its Aftermath," Foreign Agricultural Economic Report (FAER) 147532, United States Department of Agriculture, Economic Research Service.
    4. Hushak, Leroy J., 1985. "The Exchange Rate And Agriculture: Real Issue Or Dead Horse!," 1985 Annual Meeting, August 4-7, Ames, Iowa 278660, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Sy, Hamath Alassane & Faminow, Merle D., 1991. "An Annotated Bibliography of the Sub-Sahara African Grain Economy," Occasional Papers 124282, University of Manitoba, Department of Agribusiness and Agricultural Economics.
    6. Cesal, Lon C., 1985. "U.S. agricultural trade and the developing countries: Options and issues," Agricultural Outlook Forum Archive 1923 - 1997 326328, United States Department of Agriculture, Agricultural Outlook Forum.

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