The feedback of external debt on economic growth through gross domestic investment has provided quite interesting results throughout the world especially in developing countries where external and internal borrowing have been a tradition. Based on a system estimation approach, using Two Stage...

Problems of indebtedness in developing countries are not isolated occurrences. The example of the Philippines, however, is for many reasons a most interesting one. On the one hand, borrowing already once culminated in a debt crisis at the end of the 60s. On the other, the Philippine foreign debt...