The International Debt Crisis in Historical Perspective
Barry Eichengreen, Peter H. Lindert
MIT Press, 1992 - Business & Economics - 282 pages
This anatomy of financial crises shows that the worldwide debt crisis of the 1980s was not unprecedented and was even forecast by many. Eichengreen and Lindert bring together original studies that assess the historical record to see what lessons can be learned for resolving today's crisis.
"Me International Debt Crisis in Historical Perspective] demonstrates effectively how the historical perspective can help us understand the nature of international debt crises with particular recurring features such as reckless borrowing, excessive optimism of lenders, and the failure to recognize the time dimension in economic development... This stimulating volume shows the value of the historical perspective for policymakers, lenders, and borrowers when appraising foreign investment possibilities, dangers, and pitfalls. The future is not always like the past, but resembles it often enough for the past to be a relevant consideration. " - A. G. Ford, Economic History Review
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adjustment agreement American Argentina arrears average bankers Bolivia bondholders bonds issued borrowing Brazil Brazilian Britain British government capital flows capital markets CFBH Chile Colombia commercial contrast creditor-country crises debt crisis debt problems debt rescheduling debt service debtor countries default deficits developing countries diplomatic dollar bonds domestic economic European exchange rate exports external debt Fishlow Foreign Bondholders foreign bonds foreign debt Foreign Office German guaranteed important inflows interest payments interest rates internal rate interwar period investment investors Jeffrey Sachs Latin America lenders lending concessions Lindert ment Mexico million milreis Nash equilibrium negotiations official outstanding overall percent Peru PG debt political premia present value private creditors public debt rates of return ratio repay repayment Republic repurchases revenues Rio de Janeiro role settlement sovereign sterling bonds strategic tion trade transfers Turkey U.S. government United University Press Venezuela World Bank
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Delivering on Debt Relief: From IMF Gold to a New Aid Architecture
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