NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Debt Problems and the World Macro Economy

Rudiger Dornbusch

NBER Working Paper No. 2379 (Also Reprint No. r1120)*
Issued in February 1989
NBER Program(s):   ITI    IFM

This paper investigates the role of interest rates, commodity prices, growth in bringing the debt crisis about and how they facilitated or made more difficult the first five years of adjustment. We also ask whether and how the world macroeconomy is likely to contribute to the solution of the debt problem in the next five years.

*Published: This paper was subsequently published as Debt Problems and the World Macroeconomy, Rudiger Dornbusch, in NBER book Developing Country Debt and the World Economy (1989)

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