Purpose – The purpose of this paper is to examine the relationship between foreign debt, economic growth and economic crisis. Design/methodology/approach – This paper constructs a Ramsey-Cass-Koopmans model theoretically and examines empirically the relationship between foreign debt,...

Purpose – The purpose of this paper is to examine the relationship between foreign debt, economic growth and economic crisis. Design/methodology/approach – This paper constructs a Ramsey‐Cass‐Koopmans model theoretically and examines empirically the relationship between foreign debt,...