Yugoslav External Debt: a Constraint for Macroeconomic Policy

Mate Babić

Chapter 17 in Economic Development and World Debt, 1989, pp 219-224 from Palgrave Macmillan

Abstract: Abstract Generally, macroeconomic disequilibrium is the cause of foreign borrowing. Foreign borrowing permits a country to maintain domestic investment at levels beyond those that could be financed through domestic saving alone. It is this imbalance of domestic saving and investment that generates the external debt. Like many developing countries, Yugoslavia borrowed abroad to supplement her domestic savings to increase investments and accelerate her growth.

Keywords: Real Interest Rate; Macroeconomic Policy; Domestic Investment; External Debt; Debt Service (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-20044-3_17

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DOI: 10.1007/978-1-349-20044-3_17

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