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The Role of the Public Sector in the Market Economies of Developing Asia [electronic resource] : General Lessons for the Current Debt Strategy.

By: International Monetary Fund.
Material type: materialTypeLabelBookSeries: IMF Working Papers; Working Paper: No. 88/7Publisher: Washington, D.C. : International Monetary Fund, 1988Description: 1 online resource (44 p.).ISBN: 1451928262 :.ISSN: 1018-5941.Subject(s): Expenditure | Foreign Debt | Public Expenditure | Public Spending | Tax Revenue | India | Korea, Republic of | Malaysia | Philippines | Sri LankaAdditional physical formats: Print Version:: The Role of the Public Sector in the Market Economies of Developing Asia : General Lessons for the Current Debt StrategyOnline resources: IMF e-Library | IMF Book Store Abstract: This paper pursues several objectives. First, it presents a sketch of a positive (or real-world) theory of public sector intervention. Second, it analyzes in some detail the activity of the public sector in nine market economies of developing Asia and relates this activity to the growth of the foreign debt of these countries. It is argued that the relatively good performance of those countries was achieved at considerable and growing costs, especially in terms of external debt accumulation. Finally, the paper uses the experience of the Asian countries to draw some general lessons for the current debt strategy.
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This paper pursues several objectives. First, it presents a sketch of a positive (or real-world) theory of public sector intervention. Second, it analyzes in some detail the activity of the public sector in nine market economies of developing Asia and relates this activity to the growth of the foreign debt of these countries. It is argued that the relatively good performance of those countries was achieved at considerable and growing costs, especially in terms of external debt accumulation. Finally, the paper uses the experience of the Asian countries to draw some general lessons for the current debt strategy.

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