Financing Economic Reform: Mobilizing Domestic Resources and Attracting the Right Kind of External Resources
The paper investigates the four major ways that governments can finance their deficits: (a) monetising the deficit by borrowing from the central bank (b) reducing the interest cost of borrowing by thrusting debt down the throats of captive buyers, primarily commercial banks; (c) borrowing abroad in foreign currency; and (d) borrowing from voluntary domestic private sector lenders.
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|Date of creation:||1996|
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