Debt and Development Crises in Latin America

In the early 1980s widespread debt crises erupted simultaneously in most Latin American countries. The link between debt problems and the broader difficulties of the existing system of international financial intermediationhas been played down in the existing literature. So has the fact that debt crisis is part and parcel of a more profound and longer-term growth and development crisis, both in Latin America and the industrialized countries. This book argues that the debt and development crises have common origions and causes and can only be successfully overcome by fundamental changes in the policies of developed countries, in the international financial system, in national development strategies of the developing countries, and by a radical solution to the debt problem. Readership: government officials concerned with development both in Latin America and elsewhere; officials of international development organizations; bankers; investment advisors; students and scholars of economics, development studies, or Latin American studies.