Publication Type
Working Paper
Version
publishedVersion
Publication Date
5-2006
Abstract
High ratios of external debt to GDP in selected Asian countries have contributed to the initiation, propagation, and severity of the financial and economic crises in recent years, reflecting runaway fiscal deficits and excessive foreign borrowing by the private sector. More importantly, the servicing of large debt stocks has diverted scarce resources from investment and long-term growth.
Discipline
Finance | Growth and Development
Research Areas
Macroeconomics
First Page
1
Last Page
26
Publisher
SMU Economics and Statistics Working Paper Series, No. 13-2006
City or Country
Singapore
Citation
MARIANO, Roberto S. and VILLANUEVA, Delano.
External Debt, Adjustment, and Growth. (2006). 1-26.
Available at: https://ink.library.smu.edu.sg/soe_research/896
Copyright Owner and License
Authors
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Comments
Published in Fiscal Policy and Management in East Asia, 2007, pp. 199-221. https://www.nber.org/chapters/c0380.pdf