Debt Reduction Versus ?Appropriate?Domestic Policies
通过模型和实证分析，比较了债务偿还义务与国内政策对高负债发展中国家投资倾向的影响，发现适当的国内政策比减少债务偿还义务更能促进投资和增长。
In this paper, the author tackles the issue of the dismal evolution of domestic investments in some highly indebted LDCs by devising a simple model to compare the effects of debt servicing obligations and domestic policies on the propensity to invest. The author's empirical results show that both debt overhang and domestic policies influence the propensity to invest: however, appropriate domestic policies have a stronger effect in fostering investments and growth in highly indebted LDCs than reducing debt servicing obligations. Copyright 1992 by WWZ and Helbing & Lichtenhahn Verlag AG