{"id":{"repo_id":"uiuc","oai_identifier":"oai:www.ideals.illinois.edu:2142/19988"},"canonical_url":"https://search.dev.ndltd.org/etd/uiuc/oai:www.ideals.illinois.edu:2142/19988","repository":{"repo_id":"uiuc","name":"University of Illinois - Urbana-Champaign","base_url":"https://www.ideals.illinois.edu/oai-pmh"},"display":{"title":"An evaluation of the international debt crisis: The case of Mexico, 1973-1989","abstract":"\"Recent debates on the external debt situations of the heavily indebted developing countries have focussed on the existence of a \"\"Debt Laffer Curve\"\" in these countries and the need for debt reduction in order to alleviate their debt servicing difficulties. In addition, the diversity of commercial bank creditors of the heavily indebted countries and differences in their motivations for dealing with their debtors, partly due to the tax, accounting and regulatory regimes in the host country of each creditor bank, has called for the need to formulate a debt reduction \"\"package\"\" consisting of a market-based menu of options for each developing country debtor.\"","abstract_html":""Recent debates on the external debt situations of the heavily indebted developing countries have focussed on the existence of a ""Debt Laffer Curve"" in these countries and the need for debt reduction in order to alleviate their debt servicing difficulties. In addition, the diversity of commercial bank creditors of the heavily indebted countries and differences in their motivations for dealing with their debtors, partly due to the tax, accounting and regulatory regimes in the host country of each creditor bank, has called for the need to formulate a debt reduction ""package"" consisting of a market-based menu of options for each developing country debtor."","abstract_has_math":false,"creators":["Gooptu, Sudarshan"],"institution":"University of Illinois at Urbana-Champaign","degree_name":"Ph.D.","degree_level":"Dissertation","degree_discipline":"Economics","degree_department":null,"school":null,"contributors":["Baer, Werner W."],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2011,"date_issued":"2011-05-07T12:25:12Z","date_published":"2011-05-07T12:25:12Z","updated_at":"2026-07-22T22:25:15Z","subjects":["Economics, General","Economics, Finance"],"languages":["eng"],"rights":["Copyright 1991 Gooptu, Sudarshan"],"rights_urls":[],"identifier_entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9136601","(UMI)AAI9136601"],"render_values":[{"text":"AAI9136601","href":null,"code":true},{"text":"(UMI)AAI9136601","href":null,"code":true}]}]},"links":{"outbound_url":"http://hdl.handle.net/2142/19988","outbound_label":"Handle","outbound_source":"dc:identifier"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor","label":"Contributor","values":["Baer, Werner W."]},{"key":"dc:creator","label":"Author","values":["Gooptu, Sudarshan"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["2011-05-07T12:25:12Z","10000-01-01","1991"]},{"key":"dc:type","label":"Dc Type","values":["text"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Economics"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Dissertation"]},{"key":"thesis:degree_name","label":"Degree Name","values":["Ph.D."]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["University of Illinois at Urbana-Champaign"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Economics, General","Economics, Finance"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["Copyright 1991 Gooptu, Sudarshan"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier","label":"Identifier","values":["AAI9136601","(UMI)AAI9136601","http://hdl.handle.net/2142/19988"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["\"Recent debates on the external debt situations of the heavily indebted developing countries have focussed on the existence of a \"\"Debt Laffer Curve\"\" in these countries and the need for debt reduction in order to alleviate their debt servicing difficulties. In addition, the diversity of commercial bank creditors of the heavily indebted countries and differences in their motivations for dealing with their debtors, partly due to the tax, accounting and regulatory regimes in the host country of each creditor bank, has called for the need to formulate a debt reduction \"\"package\"\" consisting of a market-based menu of options for each developing country debtor.\"","\"This study begins with an overview of the trends in external indebtedness of the developing countries, in general, and those in Latin America, in particular. A detailed evaluation of an economy that allegedly suffers from a debt overhang problem, i.e. Mexico, is provided. Thereafter, the optimization problem faced by a policy maker in a country with a debt overhang situation is evaluated on the basis of an inter-temporal welfare maximizing model. The optimum level of investment in such an economy is directly influenced by the amount of debt relief and \"\"New Money\"\" that is granted by commercial bank creditors. There are several factors which influence the ultimate mix of options banks may grant a country in order to attain the required amount of debt relief. The theoretical framework is extended to incorporate some of these factors in order to compare the attractiveness of each option of a debt reduction package on the basis of a common benchmark. Two options representing the two extremes in the market-based menu of options, namely a debt buyback and a concessional rescheduling of existing loans, are specifically evaluated. Finally, the existence of a debt overhang in Mexico is econometrically examined and policy recommendations provided.\"","Made available in DSpace on 2011-05-07T12:25:12Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9136601.pdf: 10119278 bytes, checksum: a5cd5fe7ec55604df0b956c6de1fac4a (MD5) Previous issue date: 1991","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:40:47Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:17:33-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"]},{"key":"dc:title","label":"Title","values":["An evaluation of the international debt crisis: The case of Mexico, 1973-1989"]}]}],"canonical_facts":{"dc:contributor":["Baer, Werner W."],"dc:creator":["Gooptu, Sudarshan"],"dc:date":["2011-05-07T12:25:12Z","10000-01-01","1991"],"dc:description":["\"Recent debates on the external debt situations of the heavily indebted developing countries have focussed on the existence of a \"\"Debt Laffer Curve\"\" in these countries and the need for debt reduction in order to alleviate their debt servicing difficulties. In addition, the diversity of commercial bank creditors of the heavily indebted countries and differences in their motivations for dealing with their debtors, partly due to the tax, accounting and regulatory regimes in the host country of each creditor bank, has called for the need to formulate a debt reduction \"\"package\"\" consisting of a market-based menu of options for each developing country debtor.\"","\"This study begins with an overview of the trends in external indebtedness of the developing countries, in general, and those in Latin America, in particular. A detailed evaluation of an economy that allegedly suffers from a debt overhang problem, i.e. Mexico, is provided. Thereafter, the optimization problem faced by a policy maker in a country with a debt overhang situation is evaluated on the basis of an inter-temporal welfare maximizing model. The optimum level of investment in such an economy is directly influenced by the amount of debt relief and \"\"New Money\"\" that is granted by commercial bank creditors. There are several factors which influence the ultimate mix of options banks may grant a country in order to attain the required amount of debt relief. The theoretical framework is extended to incorporate some of these factors in order to compare the attractiveness of each option of a debt reduction package on the basis of a common benchmark. Two options representing the two extremes in the market-based menu of options, namely a debt buyback and a concessional rescheduling of existing loans, are specifically evaluated. Finally, the existence of a debt overhang in Mexico is econometrically examined and policy recommendations provided.\"","Made available in DSpace on 2011-05-07T12:25:12Z (GMT). No. of bitstreams: 2 license.txt: 4922 bytes, checksum: 910b249b4beec47e7ab768910c8f966f (MD5) 9136601.pdf: 10119278 bytes, checksum: a5cd5fe7ec55604df0b956c6de1fac4a (MD5) Previous issue date: 1991","Item marked as restricted to the 'UIUC Users [automated]' Group (id=2) by Howard Ding (hding2@illinois.edu) on 2011-05-07T14:40:47Z Item is restricted indefinitely.","Restriction data tranferred 2014-07-01T11:17:33-05:00 Original Data Group with Access UIUC Users [automated] Release Date: none Reason: ETDs are only available to UIUC Users without author permission","ETDs are only available to UIUC Users without author permission","U of I Only"],"dc:identifier":["AAI9136601","(UMI)AAI9136601","http://hdl.handle.net/2142/19988"],"dc:language":["eng"],"dc:rights":["Copyright 1991 Gooptu, Sudarshan"],"dc:subject":["Economics, General","Economics, Finance"],"dc:title":["An evaluation of the international debt crisis: The case of Mexico, 1973-1989"],"dc:type":["text"],"thesis:degree_discipline":["Economics"],"thesis:degree_level":["Dissertation"],"thesis:degree_name":["Ph.D."],"thesis:institution_name":["University of Illinois at Urbana-Champaign"]},"updated_at":"2026-07-22T22:25:15Z"}