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Debt Problems and the World Macro Economy

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  • Rudiger Dornbusch

Abstract

This paper investigates the role of interest rates, commodity prices, growth in bringing the debt crisis about and how they facilitated or made more difficult the first five years of adjustment. We also ask whether and how the world macroeconomy is likely to contribute to the solution of the debt problem in the next five years.

Suggested Citation

  • Rudiger Dornbusch, 1987. "Debt Problems and the World Macro Economy," NBER Working Papers 2379, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:2379
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    References listed on IDEAS

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    1. Jeffrey Sachs, 1986. "Managing the LDC Debt Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(2), pages 397-440.
    2. Rudiger Dornbusch, 1985. "Policy and Performance Links between LDC Debtors and Industrial Nations," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 303-368.
    3. Martin Feldstein, 1986. "International Debt Service and Economic Growth: Some Simple Analytics," NBER Working Papers 2076, National Bureau of Economic Research, Inc.
    4. Jeffrey D. Sachs, 1987. "International Policy Coordination: The Case of the Developing Country Debt Crisis," NBER Working Papers 2287, National Bureau of Economic Research, Inc.
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    1. Alesina, Alberto & Tabellini, Guido, 1989. "External debt, capital flight and political risk," Journal of International Economics, Elsevier, vol. 27(3-4), pages 199-220, November.
    2. Gustavo Garcia Osio & Rafael Rodriguez Balza & Luis Marcano & Ricardo Penfold & Gustavo Sanchez, 1998. "La sostenibilidad de la política fiscal en el América Latina: El caso de Venezuela," Research Department Publications 3016, Inter-American Development Bank, Research Department.
    3. Jorge Fernández Ruiz, 2002. "Optimal financial contracting and debt maturity structure under adverse selection," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 17(1), pages 37-65.
    4. Demirguc-Kunt, Asli & Detragiache, Enrica, 1994. "Interest rates, official lending, and the debt crisis: A reassessment," Journal of Development Economics, Elsevier, vol. 44(2), pages 263-285, August.
    5. Manuel Pastor Jr. & Gary A. Dymski, 1990. "Debt Crisis and Class Conflict in Latin America," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(1), pages 155-178, March.
    6. Thomas,Vinod, 1988. "Issues in adjustment lending," Policy Research Working Paper Series 2, The World Bank.
    7. Gina Ioan & Catalin Angelo Ioan, 2013. "Romania's Financial Market and Foreign Trade Impaction," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(3), pages 100-115, June.
    8. Flores Zendejas, Juan, 2015. "Capital Markets and Sovereign Defaults: A Historical Perspective," Working Papers unige:73325, University of Geneva, Paul Bairoch Institute of Economic History.
    9. Tarp, Finn, 1994. "Baggrunden forudviklingslandenes grældskrise [The Debt Crisis: Background]," MPRA Paper 64204, University Library of Munich, Germany.

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