PUBLIC DEBT EXTERNAL COMPETITIVENESS ND FISCAL DISCIPLINE IN DEVELOPING COUNTRIES
Macroeconomic -stabilization and structural -adjustment programs for debt – ridden developing countries generally center on two major policies: reduction of the fisc l deficit as the expenditure-reducing policy and deval-uation of the domestic currency as the expenditure -switching policy. Thisstudy discusses and quantifies the conditions under which those policies are consistent for countries such as…