The debt crisis: a longer-term perspective

Albert Fishlow ()

Brazilian Journal of Political Economy, 1985, vol. 5, issue 3, 345-369

Abstract: The year of 1984 was characterized by important advances in coping with thedeveloping country’s debt burden. It is no wonder, in view of these gains registered in 1984,that there is a certain complacency and even smugness regarding the continuing evolutionof the debt problem. This paper examines four principal issues on which the future evolutionof the debt problem depends. First is the influence of international economic activity onthe performance of the debtor countries. Second, is the permanence of developing countryadjustment. Third, is the stability of the new debt regime that is now in place. And fourth isthe likelihood of the new external resources to replace the decline in commercial bank lendingthat is generally forecast. JEL Classification: F32; F34; H63.

Keywords: Debt crisis; international capital flows; foreign debt (search for similar items in EconPapers)
Date: 1985
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