Download or read book Economic Stabilization and Debt in Developing Countries written by Richard N. Cooper and published by MIT Press. This book was released on 1992 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on preliminary results from a massive study conducted by the World Bank to probe the links between stabilization and growth, Cooper examines the experience of developing countries faced by the oil shocks of the 1970s and the debt crisis of the 1980s. He points out that a global slowdown in growth has shifted the main economic concern in developing countries from long-term growth to stabilization and adjustment. Cooper takes into account the cross-country variables that influence the degree to which a country is affected negatively or positively by external shocks and covers such topics as political organization and external debt resolution. The first chapter focuses on countries that experienced adverse shocks from the sharp increase in oil prices beginning in 1974. It also addresses countries that should have benefited from the oil price increase, and from a comparable increase in coffee prices, for which events turned out to be less favorable than they seemed. The second chapter analyzes the "disabsorption" a country faces when it can no longer rely on foreign lending or advantageous terms of trade; it also looks at inflationary pressures and at the role of the International Monetary Fund in designing stabilization programs for its member countries. The third chapter discusses the main influences on a country's economic performance and also discusses the lessons offered for successful stabilization and long-term growth. Moving from individual developing nations to the world economic system, the final two chapters examine the question of external debt and why it has proved to be such an international stumbling block, offering suggestions on how it might be resolved.

Download or read book Developing Country Debt and the World Economy written by Jeffrey D. Sachs and published by University of Chicago Press. This book was released on 2007-12-01 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis, almost all the debtor countries were still unable to borrow in the international capital markets on normal terms. Moreover, the world financial system has been disrupted by the prospect of widespread defaults on those debts. Because of the urgency of the present crisis, and because similar crises have recurred intermittently for at least 175 years, it is important to understand the fundamental features of the international macroeconomy and global financial markets that have contributed to this repeated instability. Developing Country Debt and the World Economy contains nontechnical versions of papers prepared under the auspices of the project on developing country debt, sponsored by the National Bureau of Economic Research. The project focuses on the middle-income developing countries, particularly those in Latin America and East Asia, although many lessons of the study should apply as well to other, poorer debtor countries. The contributors analyze the crisis from two perspectives, that of the international financial system as a whole and that of individual debtor countries. Studies of eight countries—Argentina, Bolivia, Brazil, Indonesia, Mexico, the Philippines, South Korea, and Turkey—explore the question of why some countries succumbed to serious financial crises while other did not. Each study was prepared by a team of two authors—a U.S.-based research and an economist from the country under study. An additional eight papers approach the problem of developing country debt from a global or "systemic" perspective. The topics they cover include the history of international sovereign lending and previous debt crises, the political factors that contribute to poor economic policies in many debtor nations, the role of commercial banks and the International Monetary Fund during the current crisis, the links between debt in developing countries and economic policies in the industrialized nations, and possible new approaches to the global management of the crisis.

Download or read book Stabilization Debt and Reform written by Rudiger Dornbusch and published by . This book was released on 1993 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Public Debt in Developing Countries written by Indermit Singh Gill and published by World Bank Publications. This book was released on 2005 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Over the past 25 years, significant levels of public debt and external finance are more likely to have enhanced macroeconomic vulnerability than economic growth in developing countries. This applies not just to countries with a history of high inflation and past default, but also to those in East Asia, with a long tradition of prudent macroeconomic policies and rapid growth. The authors examine why with the help of a conceptual framework drawn from the growth, capital flows, and crisis literature for developing countries with access to the international capital markets (market access countries or MACs). They find that, while the chances of another generalized debt crisis have receded since the turbulence of the late 1990s, sovereign debt is indeed constraining growth in MACs, especially those with debt sustainability problems ... " -- Cover verso.

Download or read book Economic Stabilization in Developing Countries written by Richard N. Cooper and published by . This book was released on 1991 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Costs of Foreign Debt for the United States and the Third World written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization and published by . This book was released on 1985 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Economic Stabilization in Developing Countries written by William R. Cline and published by Washington, D.C. : Brookings Institutions. This book was released on 1981 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conference report on economic policies and stabilization problems in developing countries - examines the impact of global and domestic economic conditions, interactions between inflation, trade policy, employment, income distribution, balance of payments, public finance, etc., the role of developed countries, of private sector banks and of international borrowing, and includes case studies of stabilization programmes in Mexico, Peru, Tanzania and Pakistan. Graphs and references. Conference held in Washington 1979 Oct 25 and 26.

Download or read book Economic Stabilization for Developing Countries written by Anthony Clunies Ross and published by Edward Elgar Publishing. This book was released on 1991 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: An introduction to macroeconomics in developing countries, this book presents the main elements of macroeconomics and shows how the models produced for industrialized societies need to be modified for various groups of less developed countries. It is desogned for those with little or no knowledge of economics, but who wish to understand the issues involved in the stabilizing of national income and the price level, and in keeping a sustainable balance of payments. It focuses on a number of measures designed to create stability including fiscal policy, the exchange rate, wages and interest rates. There are several case studies of policy experiments conducted since the mid 1970s.

Download or read book International Debt and the Stability of the World Economy written by William R. Cline and published by Peterson Institute. This book was released on 1983 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Policy Stabilization and Growth in Developing Countries written by Mr.Mario I. Bléjer and published by International Monetary Fund. This book was released on 1989-06-15 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Edited by Mario I. Blejer and Ke-young Chu, this book investigates linkages among components of the public sector, as well as between macro and micro aspects of fiscal policy, in developing countries. It presents 13 papers prepared by economists of the IMF's Fiscal Affairs Department.

Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.

Download or read book Revisiting the Stabilization Role of Public Banks Public Debt Matters written by H. Elif Ture and published by International Monetary Fund. This book was released on 2021-01-15 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper revisits the stabilization role of public banks and analyzes whether weak public finances may hinder this role. During the global financial crisis (GFC), public banks were widely used to counter the private credit crunch and prop up the economy. Using cross-country bank-level data for 125 advanced and developing economies for 1999–2018, the paper finds public bank lending to be less procyclical than private bank lending on average, particularly during busts. A key result, however, is that in developing economies with high public debt levels, public bank lending has been more procyclical, particularly outside of the GFC period. This finding suggests high public debt can limit the stabilization role of public banks during domestic busts, likely reflecting higher financing costs public banks face and lower subsidies they receive in economies with tighter budget constraints.

Download or read book Finance Development and the IMF written by James M. Boughton and published by Oxford University Press, USA. This book was released on 2009-06-25 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book seeks to provide objective analysis of the role and effectiveness of multilaterals in general and the IMF and World Bank in particular. The IMF is a multilateral financial institution with a mandate to promote financial and macroeconomic stability, cooperative economic policies, and a balanced growth of international trade. More than two fifths of its 185 members are low-income countries and many others have substantial pockets of poverty in their populations. Since economic development and the reduction of poverty are the most important economic challenges that these countries face, how can the IMF best help them? How can the imperative of macroeconomic and financial stability be reconciled with the requirements for sustained economic growth? This volume brings together the research of leading economists, political scientists, and historians to suggest ways for the IMF to address these issues effectively.

Download or read book Economic Development and World Debt written by H.W. Singer and published by Palgrave Macmillan. This book was released on 1989-07-03 with total page 482 pages. Available in PDF, EPUB and Kindle. Book excerpt: These papers were given at the International Conference of Economists at the University of Zagreb in Yugoslavia. They contain a selection of theoretical and practical views on the problem of international debt and its repercussions on world economic growth, particularly in developing countries.

Download or read book Debt Stabilization and Development written by Guillermo Calvo and published by Wiley-Blackwell. This book was released on 1989-01-01 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Debt Crisis in the Third World written by Yanhui Zhang and published by GRIN Verlag. This book was released on 2005-05-19 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2003 in the subject Politics - Topic: Globalization, Political Economics, grade: 1,3, University of Northampton, course: Global Political Economy, language: English, abstract: [...] In the 1970s, the world trade framework provided possibilities and opportunities for poor economies to grow. However, the harsh reality of poverty in those new independent nations was the main obstacle for any development. Their economic conditions suggested that borrowing money and gaining foreign aids were reasonable courses in the 1970s. In the meantime, the ex-colonial powers began rising awareness of remaining their influence over their past conquests. Considering of remaining economic dependency, western countries showed great willingness of lending money to poor nations. The result was an unprecedented flow of sources from the developed countries to the developing world. A large proportion of sources were in form of loans and international aids from commercial banks and western governments. Many developing countries had very large debts, and the amount of money they owed was quickly increasing. In 1982, Mexico came finally to the brink of default on its foreign debt. The critical situation marked the beginning of the “Third World Debt Crisis”. In 1970, the fifteen heavily indebted nations (using the World Bank classification of 1989) had an external public debt of $17.923 billion – which amounted to 9.8% for their GNP. By 1987, these same nations owed $402.171 billion, or 47.5% of their GNP. Interest payments owed by these countries went from $2.789 billion in 1970 to $36.251 billion in 1987. In 1991, the developing world as a whole owed a total external debt of $1.362 trillion, or 126.5% of their total exports of goods and services that year (Ferraro, V. & Rosser, M., 1994). Trying to pay off the debt became a serious problem for these countries. The nature and terms as well as the political conditions with them caused great hardship for their people. The debt crisis in the third world is highly linked to the issues of western policies, interest rates, export values and confidence in the international banking system. The crisis is thus an international phenomenon and to understand it fully needs a global perspective. This paper will examine the origins of the debt crisis in the third world in the first part and the consequences in the second part. The third part will give solutions and recommendations followed by conclusion in the fourth part.

Download or read book Theoretical and Policy Oriented Aspects of the External Debt Economics written by Chris Czerkawski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past approach to the international debt crisis has been traditionally based on conventional banking principle in which debt had to be paid back in fuH and in time. International lending was a function of the perceived credit standing of debtor country and the return on investment (ROI). If debtor country run into difficulties and had problems with service payments - it was generally assumed that the debt-related expenditures were mismanaged. With economic stability and firm financial rules - the debt crisis was supposed to disappear after application of appropriate adjustment measures. However in the world of inconsistent lending criteria greater uncertainty and increased volatility of expectations - the problem has continued to get worse. At the beginning of the 1990s a number of countries are more indebted than at any other time in the past. Until mid 1980s extern al debt economics has been rather a disembodied concept for most economists and business leaders. The main reason for this neglect of one of the most important macroeconomic categories was difficulty of distinguishing terminologically and methodologically the domestic determinants of national expenditures from the external ones. Then there were conceptual problems in distinguishing the functional determinants of macroeconomic liquidity from external and domestic determinants of macro-economic solvency. Moreover many studies of the debt crisis were one-sided. Usually debt was seen as a 'white-black' phenomenon with debtor countries accusing creditor countries for causing the crisis and vice versa.