Developing Country Debt and Economic Performance, Volume 1: The International Financial System (National Bureau of Economic Research Project Report) - Hardcover

Hardcover

ISBN 10: 0226733327 ISBN 13: 9780226733326

Publisher: University of Chicago Press, 1991

Synopsis

For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries has intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability.

This project on developing country debt, undertaken by the National Bureau of Economic Research, provides a detailed analysis of the ongoing developing country debt crisis. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The project analyzes the crisis from two perspectives, that of the international financial system as a whole (volume 1) and that of individual debtor countries (volumes 2 and 3).

About this title

From the Back Cover

This book summarizes in a nontechnical fashion papers presented in volume 1, 2, and 3, of developing country Debt and Economic Performance. The national Bureau of Economic Research prepared this volume specifically for a nonspecialist audience and the volume is ideally suited for course use.

About the Author

Jeffrey D. Sachs is professor of economics at Harvard University and a research associate of the National Bureau of Economic Research. He is the coauthor, with Michael Bruno, of Economics of Worldwide Stagflation.

Edition details

• Publisher: University of Chicago Press
• Publication date: 1991
• ISBN 10: 0226733327
• ISBN 13: 9780226733326
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 409
• Editor: Sachs Jeffrey D.