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Foreign Borrowing and Agricultural Trade of Major Latin American Debtors

Author

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  • Arnade, Carlos
  • Grigsby, Elaine
Abstract
This report describes the debt situation among eight Latin American countries and presents underlying reasons why their debt levels dramatically rose in the early 1980's. This report also analyzes the link between debt and imports of agricultural goods. An econometric model helps test whether an unexpected change in debt-service payments affects imports more than would an expected change in debt-service payments.

Suggested Citation

  • Arnade, Carlos & Grigsby, Elaine, 1988. "Foreign Borrowing and Agricultural Trade of Major Latin American Debtors," Staff Reports 278010, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uerssr:278010
    DOI: 10.22004/ag.econ.278010
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    File URL: https://ageconsearch.umn.edu/record/278010/files/ers-report-339.pdf
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    References listed on IDEAS

    as
    1. R. Dornbusch, 1984. "External Debt, Budget Deficits and Disequilibrium Exchange Rates," Working papers 347, Massachusetts Institute of Technology (MIT), Department of Economics.
    2. Anonymous, 1950. "International Trade Organization," International Organization, Cambridge University Press, vol. 4(1), pages 136-138, February.
    3. Wallis, Kenneth F, 1980. "Econometric Implications of the Rational Expectations Hypothesis," Econometrica, Econometric Society, vol. 48(1), pages 49-73, January.
    4. Shane, Mathew & Stallings, David A., 1987. "The World Debt Crisis and Its Resolution," Foreign Agricultural Economic Report (FAER) 147985, United States Department of Agriculture, Economic Research Service.
    5. Anonymous, 1950. "International Trade Organization," International Organization, Cambridge University Press, vol. 4(4), pages 681-682, November.
    6. Jeffrey D. Sachs, 1985. "External Debt and Macroeconomic Performance in Latin America and East Asia," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 16(2), pages 523-573.
    7. Shane, Mathew, 1986. "Trade and Development, Development and Trade," 1986: Trade and Development Meeting, December 1986, CIMMYT, Mexico City, Mexico 50663, International Agricultural Trade Research Consortium.
    8. Anonymous, 1950. "International Trade Organization," International Organization, Cambridge University Press, vol. 4(2), pages 325-326, May.
    9. Marquez, Jaime, 1985. "Foreign exchange constraints and growth possibilities in the LDCs," Journal of Development Economics, Elsevier, vol. 19(1-2), pages 39-57.
    10. Anonymous, 1950. "International Trade Organization," International Organization, Cambridge University Press, vol. 4(3), pages 494-497, August.
    11. Eaton, Jonathan & Gersovitz, Mark, 1980. "LDC participation in international financial markets : Debt and reserves," Journal of Development Economics, Elsevier, vol. 7(1), pages 3-21, February.
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    Cited by:

    1. Arce-Diaz, Eduardo & Goodwin, Barry K., 1992. "Latin American External Debt and its Effects on U.S. Feed Grain Exports," WAEA/ WFEA Conference Archive (1929-1995) 321342, Western Agricultural Economics Association.

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