Debt Relief and Economic Growth in Mexico

Sweder van Wijnbergen

The World Bank Economic Review, 1991, vol. 5, issue 3, 437-55

Abstract: Could external restraint and internal balance in Mexico have been reconciled.at levels of savings and investment that allowed satisfactory growth in output without the 1989-90 restructuring of debt? What are the likely implications of Mexico's "Brady deal" on economic growth? What are the macroeconomic effects of debt-equity swaps? This article develops and estimates a model to address these issues. The analysis concludes that the 1989-90 agreement in Mexico will contribute materially to macroeconomic stability and the restoration of economic growth. Copyright 1991 by Oxford University Press.

Date: 1991
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