Abstract
By the end of 1985 the total stock of foreign debt owed or guaranteed by governments of developing countries amounted to $628 billion, or almost one-third of their combined GNPs (IBRD, 1987, Table 19). Two questions concerning this debt are addressed here:
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(1)
What caused the international borrowing which led to its accumulation?
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(2)
Was the international debt ‘crisis’ of 1982 the consequence of ‘excessive’ borrowing and lending, or of the terms on which the loans were initially extended?
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© 1990 Nick Snowden
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Snowden, N. (1990). The Analysis of International Debt. In: Llewellyn, D., Milner, C. (eds) Current Issues in International Monetary Economics. Current Issues in Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20983-5_8
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DOI: https://doi.org/10.1007/978-1-349-20983-5_8
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-45350-6
Online ISBN: 978-1-349-20983-5
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