The global financial crisis

Maria da Conceição Tavaves ()

Brazilian Journal of Political Economy, 1983, vol. 3, issue 2, 144-153

Abstract: The article begins with an analysis of the current financial crisis. emphasizingthree basic components: loans taken out by large productive enterprises in the national andinternational credit market; short-term loans taken by all the Third World countries as wellas the majority of European countries in the Soviet sphere: and finally, the fact that everycountry shows larger fiscal deficits of an increasingly endogenous nature. It also analyzes theresponsibility of North American economic policy in the crisis. It questions the optimisticperspectives in relation to the international credit market and points out the necessity for acoordinated financial solution which would give a new form to the assets and liabilities ofthe principal banks and large transnational enterprises, as well as setting the stage for the renegotiationof the foreign debt in the case. of the most vulnerable national economies. JEL Classification: F34; F32; F36; H62.

Keywords: Credit market; financial crisis; fiscal deficit (search for similar items in EconPapers)
Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:3:y:1983:i:2:p:144-153:id:1923

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