Agricultural Trade Under The Overhang: A Quantitative Analaysis Of The International Debt Crisis
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Previous studies of the debt crisis have examined either the impact of "overhangs" on developing
economies or the effect of the depressed growth in these countries on developed nations through
trade and financial linkages. In this paper. these two approaches are synthesised by encompassing
debtors' supply and demand behaviour in u partial equilibrium framework. The preliminary results
indicate both the significance of the debt overhang in debtor nations' production and consumption
decisions, and tend to suggest that debt write-offs could lead to increases in demand for agricultural
goods. The investigation of overhang reduction can potentially be used to help settle the current
controversy on the size and distribution of impacts from debt forgiveness policies, thus contributing
valuable insights into targeting and institutional debates.