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The international debt crisis: the end of the beginning, not yet the beginning of the end

Author

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  • N.M. HEALEY

    (University of Leicester)

Abstract

The work explores the changing nature of the international debt crisis, from a banking crisis to a development crisis. The author begins with an overview of the changing debt position of the developing world. The reasons why developing countries become indebted and the causes of the post-1982 crisis are then considered. Finally, events since 1982 are discussed, critically assessing the management of the crisis to date.

Suggested Citation

  • N.M. Healey, 1994. "The international debt crisis: the end of the beginning, not yet the beginning of the end," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 47(188), pages 75-97.
    • Handle: RePEc:psl:bnlaqr:1994:13
    as

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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/10522/10407
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    References listed on IDEAS

    as
    1. Daniel Cohen, 1992. "The Debt Crisis: A Postmortem," NBER Chapters, in: NBER Macroeconomics Annual 1992, Volume 7, pages 65-114, National Bureau of Economic Research, Inc.
    2. Andrew M. Warner, 1992. "Did the Debt Crisis Cause the Investment Crisis?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(4), pages 1161-1186.
    3. Jeffrey D. Sachs, 1989. "Introduction to "Developing Country Debt and the World Economy"," NBER Chapters, in: Developing Country Debt and the World Economy, pages 1-34, National Bureau of Economic Research, Inc.
    4. Schwartz, Eduardo S & Zurita, Salvador, 1992. "Sovereign Debt: Optimal Contract, Underinvestment, and Forgiveness," Journal of Finance, American Finance Association, vol. 47(3), pages 981-1004, July.
    5. Jeffrey D. Sachs, 1989. "Developing Country Debt and the World Economy," NBER Books, National Bureau of Economic Research, Inc, number sach89-3.
    6. Helpman, Elhanan, 1989. "The Simple Analytics of Debt-Equity Swaps," American Economic Review, American Economic Association, vol. 79(3), pages 440-451, June.
    7. Thapa, Samanta B. & Mehta, Dileep R., 1991. "An empirical investigation of the determinants of the supply of bank loans to less developed countries," Journal of Banking & Finance, Elsevier, vol. 15(3), pages 535-557, June.
    8. Bird, G., 1989. "Loan-Loss Provisions And Third-World Debt," Princeton Studies in International Economics 176, International Economics Section, Departement of Economics Princeton University,.
    9. Norman S. Fieleke, 1990. "Economic Adjustment In Heavily Indebted Developing Countries," Contemporary Economic Policy, Western Economic Association International, vol. 8(2), pages 18-35, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    debt crisis; banking; development; developing world;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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