Resources, Trade, and Debt

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/2370 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/2370 http://eprints.org/relation/isCoversheetVersionOf https://pure.iiasa.ac.at/id/document/2370 archive 351 disk0/00/00/23/41 2016-01-15 01:53:57 2021-08-27 17:11:33 2016-01-15 01:53:57 monograph show 2 Chichilnisky G. AL0564 Heal G. AL0741 McLeod D. Resources, Trade, and Debt pub iis_ecn prog_ind The paper studies a two-region economy that has two sectors and three factors of production: oil, capital, and labor. The South exports oil in exchange for industrial goods from the North. There is a net capital inflow to the South. This equals the difference between its export revenues and import costs, and represents the South's indebtedness. This overseas borrowing finances the development of the oil sector: increased borrowing leads to &her oil supplies, to new levels of consumption and a new distribution of income in the South, and to new levels of industrial exports from the North. The paper studies the macro impacts of changes in the values of the debt on both the borrowing and the lending regions. 1983-09 published CP-83-041 CP-83-041 1810 1950 public collaborative_paper IIASA, Laxenburg, Austria 28 FALSE info:eu-repo/semantics/book