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van Wijnbergen, S. (1991). Debt relief and economic growth in Mexico World Bank Economic Review, 5(3):437--455.

  • Affiliated author
    Sweder van Wijnbergen
  • Publication year
    1991
  • Journal
    World Bank Economic Review
View publication

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.