Sources of debt accumulation in a small open economy /

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Bibliographic Details
Author / Creator:Senhadji Semlali, A.
Imprint:[Washington, D.C.] : International Monetary Fund, IMF Institute, ©1997.
Description:1 online resource (26 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/97/146
IMF working paper ; WP/97/146.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12495983
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Other authors / contributors:IMF Institute.
ISBN:9781451901719
1451901712
Notes:Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
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Print version record.
Summary:Annotation This paper analyzes the borrowing behavior of a small open economy of a developing country that relies heavily on imports for its capital formation and faces an upward-sloping supply function of foreign loans. Decision makers face uncertainty about the longevity of external shocks. That uncertainty generates forecast errors that lead to substantial debt accumulation. It is found that the assumption of an upward-sloping supply function of foreign loans, which is a more realistic formulation for developing countries than the usual perfect elasticity, offers an alternative to the Uzawa-type utility function for analyzing asset accumulation in the small open economy framework.
Other form:Print version: Senhadji Semlali, A. Sources of debt accumulation in a small open economy. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©1997
Standard no.:10.5089/9781451901719.001