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External debt and economic reform : does a pain reliever delay the necessary treatment?Vamvakidis, AthanasiosRecent literature argues that conflict in shifting adjustment costs between different socioeconomic groups delays necessary reforms and finds that such reforms often follow economic crises. This ... paper expands these models by including external borrowing by the private sector and shows that this may lead to a further delay in economic reform. Empirical evidence based on a large panel of developing and emerging economies supports this argument and shows that the result is slower economic growth. External financing sometimes acts like a "pain reliever," postponing the much needed "treatment" of a "sick" economy by reform.Vrsta gradiva - knjigaZaložništvo in izdelava - Washington : International Monetary Fund, 2007Jezik - angleškiCOBISS.SI-ID - 17264358
Avtor
Vamvakidis, Athanasios
Drugi avtorji
International Monetary Fund |
European Department
Teme
Debts, External |
Developing countries |
Economic stabilization |
Developing countries |
Dettes extérieures |
Nouveaux pays industrialisés |
Stabilisation économique |
Nouveaux pays industrialisés |
Developing countries |
Economic policy |
Nouveaux pays industrialisés |
Politique économique |
dežele v razvoju |
javni dolg |
družbenoekonomski odnosi |
državna pomoč |
reforme |
ekonomski razvoj |
ekonomska rast |
developing countries |
public debt |
socio-economic relations |
state aid |
reforms |
economic development |
economic growth |
economic growth
Vnos na polico
Trajna povezava
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