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Evidencia empirica sobre deuda externa, inversion, y crecimiento en Mexico, 1980-2003
[Empirical evidence on foreign debt, investment, and growth in Mexico, 1980-2003]

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Author Info
Flores Prieto, Pedro
Fullerton, Thomas M., Jr.
Andrade Olivas, Cesar

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Abstract

Under some conditions, it is possible that foreign debt can cause fixed investment in a country to decline. Under those circumstances, economic growth will turn negative. This theoretical possibility is known as the debt overhang hypothesis. This study investigates the debt overhang hypothesis for Mexico between 1980 and 2003. Parameter estimation results offer partial empirical evidence in favor of this hypothesis. Simulation results exhibit a high degree of correlation with actual sample data.

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File URL: http://mpra.ub.uni-muenchen.de/9497/
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 9497.

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Date of creation: Apr 2007
Date of revision: Apr 2007
Publication status: Published in Analisis Economico 50.22(2007): pp. 149-171
Handle: RePEc:pra:mprapa:9497

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Related research
Keywords: Foreign debt growth applied econometrics Mexico

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Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
F34 - International Economics - - International Finance - - - International Lending and Debt Problems
O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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