International Borrowing by Developing Countries

International Borrowing by Developing Countries

Pergamon Policy Studies on International Development

1st Edition - January 1, 1982

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  • Author: Marilyn J. Seiber
  • eBook ISBN: 9781483189819

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International Borrowing by Developing Countries analyzes the various aspects of developing-country debt. The title covers various concepts such as theory of borrowing, official and private debt, petrofund recycling, and debt relief. The text first deals with role of external capital and debt in economic development, and then proceeds to examining the historical debt experience of the now-creditor countries. Next, the selection tackles the official bilateral and multilateral debt along with its patterns, magnitude, and the procedures and experience of official debt rescheduling. The text also analyzes the private Eurocurrency debt and the official positions on debt relief and reviews proposals for recycling petrofunds and providing new sources of financing. The last part deals with the political factors that will affect external debt, as well as recommendations for future policy. The book will be of great interest to economists, political scientists, game theorists, and sociologists.

Table of Contents

  • Foreword


    Part I - External Capital and Economic Development


    1 The Role of External Borrowing in Development

    Theories on External Capital

    External Borrowing for Development

    2 An Historical View of External Capital Flows

    The Early Years of Capital Flows

    Nineteenth Century: Economic Development and Industrialization

    Capital Flows in the Early Twentieth Century

    International Indebtedness in the Post-World War II Era

    Part II - Official External Debt of Developing Countries

    3 An Aggregate Overview of Developing-Country


    Recent Economic Developments

    An Aggregate Review of LDC Debt

    Debt: A Cause for Alarm

    4 Official Bilateral and Multilateral LDC Debt

    Bilateral Aid and Debt

    Multilateral Aid and Debt

    5 Debt Reorganization

    Official Debt Rescheduling

    Commercial Debt Relief

    Debt Management

    Part III - Developing Countries and Commercial Bank Debt

    6 The Rise of Developing-Country Private Debt

    Developing Countries in the Euromarket

    The Euromarket as Creditor

    Future LDC Private Borrowing

    7 The International Economy: OPEC, Adjustment, and Recycling

    Organization of Petroleum Exporting Countries



    8 Future Prospects on the Role of Commercial Banks

    The Capacity of Commercial Banks to Recycle

    Bank Risk Analysis

    Bank Regulation and Surveillance

    Commercial Banks'Future Role

    Part IV - Recycling and Debt Relief

    9 Official Positions of Creditor and Debtor Nations on Debt Relief

    Perceptions of the Debt Problem

    Official Positions on Debt Relief

    Recent Debt Relief Negotiations

    10 Strategies for Recycling and Debt Relief

    Recycling Strategies

    Debt Relief Proposals

    Part V - Conclusion

    11 Debt Policies for the Future

    External Debt in the 1980s

    Political Considerations

    Policy Recommendations

    The Need for Leadership


    1 United States Government Policy on Debt Rescheduling

    2 Multilateral Debt Relief Operations By DAC Members 1956-1978

    3 UNCTAD Resolution 165

    4 Implementation Of Trade And Development

    Board Resolution 165 (S-IX)




    About the Author

Product details

  • No. of pages: 224
  • Language: English
  • Copyright: © Pergamon 1982
  • Published: January 1, 1982
  • Imprint: Pergamon
  • eBook ISBN: 9781483189819

About the Author

Marilyn J. Seiber

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