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Growth, external debt and the real exchange rate in Mexico

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  • van Wijnbergen, Sweder

Abstract

Can external restraints and internal balances be reconciled in Mexico at levels of savings and investment that allow satisfactory output growth? What is the role of fiscal policy, interest rates and exchange rates in bringing such a configuration about? How sensitive are the answers to external developments (oil prices, interest rates)? What would a cutoff from external capital markets imply for output growth in Mexico? What are the macroeconomic effects of debt equity swaps? This paper develops an analytical framework to address these issues and applies it econometrically to Mexico.

Suggested Citation

  • van Wijnbergen, Sweder, 1989. "Growth, external debt and the real exchange rate in Mexico," Policy Research Working Paper Series 257, The World Bank.
    • Handle: RePEc:wbk:wbrwps:257
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    Citations

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    Cited by:

    1. Gooptu, Sudarshan, 1996. "Emerging policy issues in development finance," The Quarterly Review of Economics and Finance, Elsevier, vol. 36(Supplemen), pages 85-100.
    2. J.-C. Moreno-Brid, 1998. "Balance-of-payments constrained economic growth: the case of Mexico," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 51(207), pages 413-433.
    3. Hinojosa-Ojeda, Raul & Robinson, Sherman, 1991. "Alternative Scenarios of U.S.-Mexico Integration: A Computable General Equilibrium Approach," CUDARE Working Papers 198585, University of California, Berkeley, Department of Agricultural and Resource Economics.
    4. Rudiger Dornbusch & Alejandro Werner, 1994. "Mexico: Stabilization, Reform, and No Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 25(1), pages 253-316.

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