Private investors have an important role to play in the ongoing process of reform in Eastern Europe. So external creditworthiness is crucial to a successful transition. Large government borrowing crowds out the formation of private contracts between international investors and domestic entrepreneurs and firms. Given the overall credit ceiling in international lending, the public sector needs to curtail its external borrowing to leave room for the...
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DETALHES
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1991/06/30
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Documento de trabalho sobre pesquisa de políticas
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WPS695
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1
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1
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2010/07/01
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Long term prospects in Eastern Europe : the role of external finance in an era of change
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short period of time
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