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Beyond the Debt Crisis: Alternative Forms of Financing Growth (Classic Reprint)

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Beyond the Debt Crisis: Alternative Forms of Financing Growth (Classic Reprint) - Lessard, Donald R
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Excerpt from Beyond the Debt Crisis: Alternative Forms of Financing Growth The financing requirements of developing countries are small relative to the size of world capital markets. Even an ambitious figure of $20 billion a year is less than 10 percent of the current net debt financing provided by oecd markets and institutions. Individual countries face a virtually elastic supply on the condition that they are able to make credible commitments to meet the terms of their obligations.2 Therefore, tapping new sources of ...

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