Policy-makers in developing countries who try to reduce external debt are engaged in a complicated balancing act. Domestic spending programs could be curtailed to free up funds for the repayment of debt. If less money is invested in industry and infrastructure, however, the growth of industrial output - essential to a healthy economy - could be compromised. The challenge is to determine the set of policies that will maintain solvency and creditworthiness...
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1992/03/31
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Publicação
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10556
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1
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1
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2010/07/01
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External debt, fiscal policy, and sustainable growth in Turkey
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output growth
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