International Borrowing by Developing Countries

Pergamon Policy Studies on International Development

1st Edition - January 1, 1982
Author: Marilyn J. Seiber
Language: English
eBook ISBN:
9 7 8 - 1 - 4 8 3 1 - 8 9 8 1 - 9

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… Read more

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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.

Foreword

Introduction

Part I - External Capital and Economic Development

Chapter

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

Debt

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

Adjustment

Recycling

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

Appendices

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)

Notes

Bibliography

Index

About the Author