The international debt crisis: the end of the beginning, not yet the beginning of the end
Keywords:Debt crisis, banking, development, developing world
The work explores the changing nature of the international debt crisis, from a banking crisis to a development crisis. The author begins with an overview of the changing debt position of the developing world. The reasons why developing countries become indebted and the causes of the post-1982 crisis are then considered. Finally, events since 1982 are discussed, critically assessing the management of the crisis to date.
JEL Codes: G01, F34
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