In the early 1980's the debt to GNP ratio of South Korea was the same as the

Fantastic news! We've Found the answer you've been seeking!

Question:

In the early 1980's the debt to GNP ratio of South Korea was the same as the debt to GNP ratio of Argentina. Yet while Argentina was embroiled in a "debt crisis", South Korea (with the same amount of debt) was not. According to Jeffery Sachs, what are the four possible explanations for this difference that have discussed in the literature. According to Sachs, which of these explanations is correct? Describe the evidence that Sachs presents to prove his point.