Commodity Price Contractions, Debt and Economic Growth in Developing Economies: The Venezuelan Case
One of the consequences of the emergence of the Latin American foreign debt crisis in 1982 has been a growing attention to the problem of the incompatibility between internal economic growth and the honouring of external commitments by heavily indebted countries suffering the effects of a strong deterioration of their terms of trade. The latter problem, in turn, is the result of the collapse of the prices for their main export products, usually a limited gamut of primary commodities, which are particularly subject to extreme price fluctuations.
KeywordsPublic Spending Base Scenario International Reserve Foreign Debt Debtor Country
Unable to display preview. Download preview PDF.
- Central Bank of Venezuela (Various), Informe Economico, Caracas.Google Scholar
- Dornbusch, R. (1986), “Special Exchange Rates for Capital Account Transactions”, The World Bank Economie Review, 1, No.l.Google Scholar
- Fontiveros, D. (1987), “The Foreign Exchange Market in Venezuela: Problems and Outlook”, MetroEconomica’s Monthly Report, VI, No.8.Google Scholar
- Garcia, G. (1987), El Estado y la Politica Cambiaria, COPRE, Caracas, mimeo.Google Scholar
- Mexican Government (1988), The United Mexican States, Collateralised Floating Rate Bonds Due 2008 (Collaterialised as to Principal at Stated Maturity Only), Mexico.Google Scholar
- Palma, P.A. (1985), 1974–1983: Una Decada de Contrastes en la Economia Venezolana, National Academy of Economic Sciences, Caracas.Google Scholar
- Palma, P.A. (1987), El Manejo de la Deuda Publica Externa de Venezuela: Necesidad de Urgentes Cambios, COPRE, Caracas, mimeo.Google Scholar
- Palma, P.A. (1988), “A Formula do Mexico: Urna Sugestao Venezuelana”,Gazeta Mercantil, Sao Paulo, March 30.Google Scholar
- Rodriguez, M. (1987), “Consequences of Capital Flight for Latin American Debtor Countries” in Lessard, D.R. and J. Williamson (eds.), Capital Flight and Third World Debt, Institute for International Economics, Washington.Google Scholar