{
  "title": "External Finance and Foreign Debt in Central and Eastern European Countries",
  "publication": "IMF Working Papers, October 1, 1997",
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  "summary": "External finance can provide a positive contribution to the transition process and can enhance welfare in former centrally planned economies, especially when domestic saving has not fully recovered after the initial contraction.",
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    {
      "heading": "Summary",
      "content": "- Author: Stefano Manzocchi\n- Date: October 1, 1997\n- This Working Paper analyzes the determinants of net external borrowing in ten transition economies during 1990-95 and assesses the impact of the outstanding stock of foreign liabilities on net financial inflows.\n- Key contextual point: External finance can positively contribute to the transition process and enhance welfare in former centrally planned economies, especially when domestic saving has not fully recovered after the initial contraction; however, foreign debt could exert a strong constraint on borrowing capacity for some central and eastern European countries."
    },
    {
      "heading": "Major findings and analytical focus",
      "content": "- Scope: Ten transition economies over 1990-95.\n- Core questions:\n  - What are the determinants of net external borrowing in the sample countries?\n  - How does the outstanding stock of foreign liabilities affect net financial inflows?\n- Conceptual emphasis:\n  - Role of external finance in transition economies where domestic saving remains low after initial contraction.\n  - Potential constraint posed by accumulated foreign debt on future borrowing capacity."
    },
    {
      "heading": "Subjects and keywords (as presented)",
      "content": "- Subjects: Balance of payments, Debt burden, Export performance, Exports, External debt, Foreign direct investment, International trade\n- Keywords: Baltics, Central and Eastern Europe, debt, Debt burden, debt obligation, debt-creating inflow, debt-export measure, debt-export ratio, Eastern Europe, Europe, Export performance, export ratio, Exports, Foreign direct investment, GDP, GDP ratio, net, nominal exchange rate, saving-investment imbalance, term debt, transition economy, Western Europe, WP\n\n---\n\n Content in this bundle\n\n- External Finance and Foreign Debt in Central and Eastern European Countries - WP/97/134\n  - External Finance and Foreign Debt in Central and Eastern European Countries - WP/97/134 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - External Finance and Foreign Debt in Central and Eastern European Countries - WP/97/134 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/external-finance-and-foreign-debt-in-central-and-eastern-european-countries-2354"
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    "Authors: Stefano Manzocchi",
    "Published: October 1, 1997",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451855562.001",
    "Author: Stefano Manzocchi",
    "Date: October 1, 1997",
    "This Working Paper analyzes the determinants of net external borrowing in ten transition economies during 1990-95 and assesses the impact of the outstanding stock of foreign liabilities on net financial inflows.",
    "Key contextual point: External finance can positively contribute to the transition process and enhance welfare in former centrally planned economies, especially when domestic saving has not fully recovered after the initial contraction; however, foreign debt could exert a strong constraint on borrowing capacity for some central and eastern European countries.",
    "Scope: Ten transition economies over 1990-95.",
    "Core questions:",
    "Conceptual emphasis:",
    "Subjects: Balance of payments, Debt burden, Export performance, Exports, External debt, Foreign direct investment, International trade",
    "Keywords: Baltics, Central and Eastern Europe, debt, Debt burden, debt obligation, debt-creating inflow, debt-export measure, debt-export ratio, Eastern Europe, Europe, Export performance, export ratio, Exports, Foreign direct investment, GDP, GDP ratio, net, nominal exchange rate, saving-investment imbalance, term debt, transition economy, Western Europe, WP",
    "**External Finance and Foreign Debt in Central and Eastern European Countries - WP/97/134**"
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