International Interdependence and the Debt Problem

M. Panić and M. S. Kumar
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M. Panić: University of Cambridge
M. S. Kumar: University of Cambridge

Chapter 23 in Structural Change, Economic Interdependence and World Development, 1987, pp 359-380 from Palgrave Macmillan

Abstract: Abstract There is little doubt that the current levels and composition of developing countries’ debts present one of the most serious threats to the survival of the international financial system. Not surprisingly, the possibility of a global financial upheaval has inspired a large and rapidly growing literature, covering a wide range of issues. Yet it is far from clear that the debate has been very successful in isolating the real origin of the problem. In the debt drama, as in a detective story, the real culprit is not necessarily one of the main suspects, even though the latter may be guilty of many serious offences.

Keywords: Exchange Rate; Foreign Direct Investment; Industrial Country; Central Bank; Bank Lending (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-09117-1_23

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DOI: 10.1007/978-1-349-09117-1_23

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