Commodity Price Contractions, Debt and Economic Growth in Developing Economies: The Venezuelan Case

  • Pedro A. Palma
Part of the Advanced Studies in Theoretical and Applied Econometrics book series (ASTA, volume 17)


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.


Public Spending Base Scenario International Reserve Foreign Debt Debtor Country 
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Copyright information

© Kluwer Academic Publishers 1989

Authors and Affiliations

  • Pedro A. Palma
    • 1
  1. 1.MetroEconomicaCaracasVenezuela

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