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The evolution of the external debt and balance of payments of eastern europe and the USSR since 1970

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  • Richard Allen

Abstract

This paper traces balance-of-payments developments in eastern Europe and the USSR over the last decade and examines their potential for adjustment. The growth of external debt and the balance of payments deficit, possible reasons for the area's poor trade performance and the factors which may affect the ability of these countries to secure adjustment are discussed.

Suggested Citation

  • Richard Allen, 1982. "The evolution of the external debt and balance of payments of eastern europe and the USSR since 1970," BIS Working Papers 7, Bank for International Settlements.
  • Handle: RePEc:bis:biswps:7
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    References listed on IDEAS

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    1. Jappelli, Tullio & Pagano, Marco, 1989. "Consumption and Capital Market Imperfections: An International Comparison," American Economic Review, American Economic Association, vol. 79(5), pages 1088-1105, December.
    2. Ben S. Bernanke & Mark Gertler, 1995. "Inside the Black Box: The Credit Channel of Monetary Policy Transmission," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 27-48, Fall.
    3. Boswijk, H. Peter, 1995. "Conditional and structural error correction models reply," Journal of Econometrics, Elsevier, vol. 69(1), pages 173-175, September.
    4. Campbell, John Y & Mankiw, N Gregory, 1990. "Permanent Income, Current Income, and Consumption," Journal of Business & Economic Statistics, American Statistical Association, vol. 8(3), pages 265-279, July.
    5. Martin M.G. Fase, 1998. "On Money and Credit in Europe," Books, Edward Elgar Publishing, number 1550, April.
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