In the early 1980's the debt to GNP ratio of South Korea was the same as the
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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.
Related Book For
Macroeconomics
ISBN: 978-1319120054
3rd Canadian edition
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
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