La politique economique face aux chocs externes dans les pays en developpement.
Many external shocks can be regarded as to some extent temporary, an example being the rise in the oil price in 1990. The paper first considers the consequences of the coffee boom of 1976-1979 in Kenya, a shock caused by a frost in Brazil and therefore evidently of a temporary nature. About half of the windfall was saved although this was due to a high private savings rate offset by low public savings. Due to controls, the windfall savings caused an investment boom which in turn caused a cons...Expand abstract
- Revue d'Économie du Développement
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