World Debt and Stability

Macesich, George

ISBN 10: 0275936694 / ISBN 13: 9780275936693

Published by ABC-CLIO, 1991

About this Item

Addressing the world debt crisis, the author proposes a method for overcoming the dilemma. He develops a useful framework with which to approach the world debt problem, focusing on his co-operation theory, which calls for a bilateral approach on the part of creditor and debtor countries. Num Pages: 128 pages, black & white illustrations. BIC Classification: KCLF. Category: (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 216 x 140 x 11. Weight in Grams: 311. . 1991. Hardback. . . . . Books ship from the US and Ireland.

Seller Inventory # V9780275936693

Bibliographic Details

• Title: World Debt and Stability
• Publisher: ABC-CLIO
• Publication Date: 1991
• Language: English
• ISBN 10: 0275936694
• ISBN 13: 9780275936693
• Binding: Hardcover
• Condition: New

About this title

Synopsis

The constant and seemingly intractable problem of world debt is much in the news today, and, despite the Baker plan of the 1980s and the more recent Brady plan, the plight of third-world borrowing nations and their first-world creditors continues to worsen. Developing nations are stymied by the portions of their gross domestic product that must be given over to servicing debt, and money center banks continue to write down their third-world loans, damaging their own balance sheets as well as their credibility. In this study, a follow-up to his Monetary Reform and Cooperation Theory, George Macesich addresses the world debt crisis and proposes a method for overcoming the dilemma.

Macesich develops a useful framework with which to approach the world debt problem, focusing on his cooperation theory, which calls for a bilateral approach on the part of both creditor and debtor countries. There are significant obstacles to this type of cooperation, however, and these difficulties and methods for overcoming them are discussed at length. Macesich begins the volume with a survey of the world debt problem, followed by a detailed examination of the theory and strategy of cooperation. In succeeding chapters he studies the barriers to cooperation: domestic constraints in debtor nations, domestic constraints in creditor nations, economic nationalism, and the nationalism of the bureaucratic and political elite. He concludes the work with a discussion of the relationship between debt burden and world monetary stability. This study will be a valuable resource for finance and banking professionals and for monetary policymakers, as well as for courses in banking, world finance, and international monetary policy. College, university, and public libraries will also find it a useful addition to their collections.

About the Author

GEORGE MACESICH is Professor of Economics at Florida State University. He is the author of several books, including The United States in the Changing Global Economy: Policy Implications and Issues (Praeger, 1997) and World Economy at the Crossroads (Praeger, 1997).