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External debt in developing economies: assessment and policy issues

Author

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  • Márcio Holland

Abstract

More than one decade after the external debt restructuring (the Brady Plan), a great amount of literature has been published concerning the balance sheet factors in developing countries. The staff of international multilateral institutions joined with reputable academics in this great controversy. The external debt problem of the developing countries is back and once more reflections on its cause and on policy recommendations are analytically distinct. Our main task is to reflect on the recent external debt dynamics and assess how this debt has evolved. Our findings indicate that the susceptibility of some developing countries to default is associated with global imbalance, that is, the way they borrow. JEL Classification: F33, F34, F59.

Suggested Citation

  • Márcio Holland, 2007. "External debt in developing economies: assessment and policy issues," Brazilian Journal of Political Economy, Center of Political Economy, vol. 27(1), pages 20-40.
    • Handle: RePEc:ekm:repojs:v:27:y:2007:i:1:p:20-40:id:552
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    More about this item

    Keywords

    External Debt; Developing Countries; Original Sin; Debt Sustainability Assessment;
    All these keywords.

    JEL classification:

    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

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