International debt: Systematic risk and policy response

China and Asia: economic …, 2009

2000

Routledge Studies in the Modern World Economy, 2009

Humanities and Social Sciences Letters, 2018

This study examined the nature, causes and impact of the huge foreign debt crisis in Latin America between the 1970s and 1980s referred to generally as the "lost decade'. As a survey research, it employed the historical method of research and analysis. It gathered its data extensively through library search and adopted the qualitative technique of content analysis of historical documents. The paper noted that the debt crisis in Latin America came to a head in August 1982 when Mexico publicly declared its insolvency. It identified a number of factors that brought about this endemic burden of foreign debt in Latin America. These included: the over-preponderancy of foreign loans granted to Latin American states, particularly Argentina, Brazil, Mexico and Venezuela, in the 1970s and the attendant inflation and increasing floating interest rates. These had combined to serve as great challenges to the economic development and survival of the Latin American countries during the period of study. The various attempts at debt rescheduling and cancellation between 1980 and 1989 were equally well documented. It concluded that Latin American countries should avoid excessive external debts to avoid disaggregation in their economic development in the nearest future. Contribution/Originality: This study contributes to the existing literature on development crisis in Third World countries. The paper"s primary contribution is finding that excessive external debt is a major impediment to socioeconomic growth and development in Latin American states.

1990

1988

This paper examines the patterns of defaults, renegotiations, and final settlements on foreign borrowing of several Latin American governments in the interwar period. One goal of the paper is to provide a detailed historical account of the borrowing and renegotiation experience of five Latin borrowers (Argentina, Bolivia, Chile, Colombia, and Peru). Another goal is to provide a quantitative assessment of the amount of debt relief that was implicit in the negotiated settlements of the defaults that were reached in the 1930s and 1940s. In general, the pattern of default and renegotiation resulted in substantial, though not complete, debt relief, in the sense of reducing the present value of debt repayments from the sovereign borrower to the bondholders.

DOCUMENT Nº 5: "STAFF REPORTS ON THE INTERNATIONAL DEBT CRISIS". Research and writings produced, as a National Democratic Institute legislative fellow, assigned at U.S. Senator Jonh Kerry's office - Washington DC - 1985-1986. (Review and citations are authorized by the author.)

2021

This paper reviewed the matter of balance and trade-off between domestic debt and public debt. The study sought to underpin the general consensus on the issue of debt and how economic activities were impacted by the various forms of public debt. The paper gives an overview of different countries experience with regards to debt sourcing. Various authors express various views with regards to this question that do not necessarily bring about points of convergence in ideologies. The general point of agreement of specialists who have looked into this subject matter is established at the use of the debt acquired. If debt is acquired to facilitate development projects then there is no doubt that such debt will resultantly bring about economic growth and economic development. On the other hand there are some governments that do borrow for to finance recurrent expenditure however much that this increases consumption within the economy, the desired growth and development is hardly achieved. W...

The Evidence and Impact of Financial Globalization, 2013

This paper draws on the authors' contributions for a chapter prepared for the Elsevier Encyclopedia of Financial Globalization. We would like to thank, without implication, Stijn Claessens and Sergio Schmukler for inviting us to write this paper and Mackie Bahrami for helpful comments and suggestions. Some portions of this article draw on Panizza, Sturzenegger and Zettelmeyer (2009). The views expressed in this chapter are the authors' only and need not reflect, and should not be represented as, the views of any of the institutions that the authors are affiliated with.

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