We investigate in this paper what are the main determinants of government and external debt in Latin America. Our …, presumably via the automatic stabilisers, has had the ability of reducing debt in the region. Other important candidates … suggested by the literature do not present clear-cut estimates on debt. Essentially, this suggests that the tax-smoothing model …

between the United States and Latin America. As U.S. agriculture emerges from its debt problem of the 1980s and the problem …

The hypothesis that the internal public debt has played the role of shock absorber in Colombia since 1923 is modelled … econometric results offer a strong support for the hypothesized shock-absorber role of the internal debt. …

. First, there has been a high concentration of financial crises in Latin America. Second, debt problems have been at the … issues of debt sustainability in emerging economies. After providing in section II a brief account of the hard times that … have recently fallen on Latin America, Goldstein presents in section III a few summary debt statistics for several recent …