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Book Cover
Author Borensztein, Eduardo, author

Title Foreign borrowing and export promotion policies / prepared by Eduardo Borensztein and Atish Rex Ghosh
Published Washington, D.C. : International Monetary Fund, 1989
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Description 1 online resource (ii, 33 pages) : illustrations
Series IMF working paper ; WP/89/16
IMF working paper ; WP/89/16
Summary This paper considers the problem of allocation of investment for a debtor country that faces a ceiling on the amount of foreign debt it can accumulate. It shows that it is optimal for the debtor country to create a more open economy by favoring investment in the export sector over investment in the import-competing sector. The reason is that a more open economy is more sensitive to trade sanctions and therefore more creditworthy in international markets. Because international creditworthiness is basically an externality, there is a role for policy to provide higher returns to export producing activities
Notes Available in PDF, ePUB, and Mobi formats on the Internet
Online resource; title from PDF title page (IMF, viewed August 25, 2014)
Subject Debts, External -- Mathematical models.
Form Electronic book
Author Ghosh, Rex, author
International Monetary Fund, issuing body
ISBN 1455256390