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L'endettement International et les Problemes D'ajustement: une Perspective Generale

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  • Tremblay, R.

Abstract

This paper reviews the theory of international indebtedness over time from the viewpoint of both the demand and the supply of international credit. The demand for foreign credit depends ultimately on the optimal trade-off between financing and correcting external deficits, subject to the constraint of availability of credit. The conditions for debt crises to arise are analysed. The overall supply of international credit depends mainly on trade imbalances and on the rate of growth of international reserves. The supply of credit for a single country depends on risk indicators related to its solvency and liquidity positions.
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  • Tremblay, R., 1983. "L'endettement International et les Problemes D'ajustement: une Perspective Generale," Cahiers de recherche 8301, Universite de Montreal, Departement de sciences economiques.
    • Handle: RePEc:mtl:montde:8301
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    1. Kapur, Ishan, 1977. "An Analysis of the Supply of Euro-Currency Finance to Developing Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 39(3), pages 171-188, August.
    2. Nicholas Sargen, 1976. "Commercial bank lending to developing countries," Economic Review, Federal Reserve Bank of San Francisco, issue Spr, pages 20-31.
    3. Pierre Dhonte, 1975. "Describing External Debt Situations: A Roll-over Approach (La description de l'endettement extérieur: l'approche du refinancement) (La refinanciación y su utilidad para la descripción de situacione," IMF Staff Papers, Palgrave Macmillan, vol. 22(1), pages 159-186, March.
    4. Feder, Gershon & Just, Richard E., 1977. "A study of debt servicing capacity applying logit analysis," Journal of Development Economics, Elsevier, vol. 4(1), pages 25-38, February.
    5. Frank, Charles Jr. & Cline, William R., 1971. "Measurement of debt servicing capacity: An application of discriminant analysis," Journal of International Economics, Elsevier, vol. 1(3), pages 327-344, August.
    6. Eaton, Jonathan & Gersovitz, Mark, 1980. "LDC participation in international financial markets : Debt and reserves," Journal of Development Economics, Elsevier, vol. 7(1), pages 3-21, February.
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    Cited by:

    1. Tremblay, Rodrigue, 1984. "Les causes structurelles du chômage actuel," L'Actualité Economique, Société Canadienne de Science Economique, vol. 60(4), pages 430-439, décembre.

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