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The debt crisis: a longer-term perspective

Author

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  • Albert Fishlow

    (Universidade da Califórnia, Berkeley.)

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.

Suggested Citation

  • Albert Fishlow, 1985. "The debt crisis: a longer-term perspective," Brazilian Journal of Political Economy, Center of Political Economy, vol. 5(3), pages 345-369, July.
    • Handle: RePEc:ekm:repojs:v:5:y:1985:i:3:id:96526
    DOI: 10.1590/0101-31571985-3026
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    Keywords

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    JEL classification:

    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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