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- W1135202106 abstract "Three broad explanations have been advanced for this simultaneity of debt expansion and economic depression. De mand-oriented explanations argue that developing countries have increased their foreign liabilities in order to moderate the stagflationary effects of rising energy prices e.g. Seria [18], Islam [12] . Supply-oriented studies emphasise the profit-seeking behaviour of international banks burdened with post-OPEC excess liquidity e.g. DeWitt and Petras [7], Stallings [19], Aronson [1], Lipson [14] . While they deal with important facets of the debt problem, these two explan ations ignore an equally important aspect, namely, that the debt expansion might have contributed to the economic diffi culties experienced by the Lesser Developed Countries (LDCs). The third broad explanation deals with the latter possibility. Most of the related literature focuses on the effect of foreign capital on domestic savings e.g. Rahman [ 17], Weiskopf [22], Dacey [6], Griffin and Enos [8]. Recent writings by Bhag wati and Grinols [3, 9] extended the analysis to the critical issues of dependence and stabilisation. A few studies empha sise the influence of public economic management on re source allocation [Holsen 11, Hollist 10]." @default.
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- W1135202106 date "1980-05-01" @default.
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- W1135202106 title "GOVERNMENT FOREIGN BORROWING AND ECONOMIC GROWTH: THE JAMAICAN EXPERIENCE" @default.
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