NBER Working Papers and Publications
|September 1987||Argentina: Debt and Macroeconomic Instability|
with Rudiger Dornbusch: w2378
The paper reviews the Argentine debt experience in the past ten years. The emphasis is on the interaction between relative prices, financial instability, budget .deficits, inflation and debt accumulation. A longer run perspective shows that the continuing fiscal problems have stood in the way of investment and growth.
Published: Developing Country Debt and the World Economy, edited by Jeffrey D. Sachs, Chicago: The University of Chicago Press, 1989.