The Role of Incomes Policies in the Adjustment Process of Debtor Countries

Ariel Buira
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Ariel Buira: Bank of Mexico

Chapter 5 in Incomes Policies, 1989, pp 84-101 from Palgrave Macmillan

Abstract: Abstract Developing countries have faced serious external debt difficulties since mid-1982 (see Table 5.1). Despite the initial approach to deal with such problems — based on a joint effort by creditors, debtors and international financial institutions — the external debt crisis persists. In most countries the benefits of adjustments efforts have so far been lower, and the economic and social costs higher, than initially expected. Partially as a consequence of the above, commercial banks have not been willing to resume lending on a voluntary basis. This has given rise to growing political pressures and concerns among the governments of creditor and debtor countries.

Keywords: Foreign Direct Investment; Real Exchange Rate; Debt Crisis; External Debt; Domestic Saving (search for similar items in EconPapers)
Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-20381-9_5

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DOI: 10.1007/978-1-349-20381-9_5

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