Abstract
The countries of Latin America increased their indebtedness at a rapid pace in the 1970s and up to 1981. In 1982 the debt crisis broke and they began seeking to reduce the rate of growth of their external debts by concentrating on developing trade balance surpluses generated at high cost in terms of production and employment in the countries concerned.
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Notes and References
IMF, World Economic Outlook, 1983, Washington DC, The Fund (1983).
J. S. Sjaastad, ‘Exchange Rate Regimes and the Real Rate of Interest’, University of Chicago and Graduate Institute of International Studies, mimeo, (January 1984).
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© 1990 Paolo Savona and George Sutija
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Donoso, A. (1990). Diversification Among Currencies in the Contracting of External Financing and the Effective Debt Burden. In: Savona, P., Sutija, G. (eds) World Trade: Monetary Order and Latin America. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-08812-6_4
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DOI: https://doi.org/10.1007/978-1-349-08812-6_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-08814-0
Online ISBN: 978-1-349-08812-6
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