In the 1980s chronic public sector deficits forced countries to undertake fiscal adjustment. The need to face hard choices continues in the 1990s. But the problem is not a simple and easily diagnosed one...
Access to credit and the high level of local currency interest rates and lending spreads have been cited as one of the most common obstacles to economic growth in Latin America. Financial repression, high...
In most South Asian countries, the central banks are assuming an active or increasing role in mobilizing domestic and foreign resources or in financing public enterprises operations. This paper provides...
Argentina has had a quarter century without growth at a time of rapid economic growth in the rest of the world. This paper looks at the role that public sector behavior, particularly government spending...
This paper develops a two equation model for measuring how public sector deficits - and the way that they are financed - affect the real exchange rate, the trade balance, the current account and the level...
Structural adjustment is an economy wide adjustment effort aimed at allocating resources better. The author contends that functioning markets and a low, stable inflation rate are two macroeconomic preconditions...
This paper analyzes the viability of servicing Argentina's foreign debt, most of which is owed by the public sector. The analysis focuses on the country's capacity for servicing the debt and on the possibility...
