콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Financial Policy
Economy Economic Administration

Print

Optimal borrowing policies for developing countries: the cases of Korea, the Philippines, and Thailand, 1965-83

Related Document
Frame of Image
  • Optimal borrowing policies for developing countries: the cases of Korea, the Philippines, and Thailand, 1965-83
  • Alesina, Alberto F.
  • Harvard University


link
Title Optimal borrowing policies for developing countries: the cases of Korea, the Philippines, and Thailand, 1965-83
Similar Titles
Material Type Reports
Author(English)

Alesina, Alberto F.

Publisher

[Cambridge, U.S.]:Harvard University

Date 1987-06
Series Title; No IMF working paper / 87/41
Pages 44
Subject Country Philippines(Asia and Pacific)
South Korea(Asia and Pacific)
Thailand(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Economy < Economic Administration
Holding SSRN

Abstract

This paper develops a theoretical framework for analyzing external debt policies of developing countries and applies it to assess the cases of three Asian countries, namelyKorea, the Philippines, and Thailand. The "optimal debt policy" for a developing country is characterized in the first part of the paper. In the second, the experiences of these three countries during the period 1965-83 are compared with this theoretical benchmark. The empirical results show that, during this period, Korea was quite successful in managing its external debt, while the Philippines was less successful. The case of Thailand, in many respects, fell in between the other two, although closer to that of Korea.