Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 1998 erstellt
Description:
This paper studies the medium run prospects--that is, up to 2003--for Brazilian foreign indebtedness based on an analytical framework that calculates the current account balance required to stabilize the ratio foreign liabilities/exports. We show that, in the absence of a real exchange rate devaluation, economic growth will be subject to significant constraints, so that a strategy of exc hange rate depreciation could be called for. We project the behavior of the main current account variables under alternative real exchange rate and GDP growth scenery