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Banker to the Third World - U. S. Portfolio Investment in Latin America, 1900-1986 (Paperback)
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Banker to the Third World - U. S. Portfolio Investment in Latin America, 1900-1986 (Paperback)
Series: Studies in International Political Economy, 18
Expected to ship within 10 - 15 working days
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By the end of 1985, Latin Americans owed their foreign creditors
$368 billion. That was nearly $1,000 for every man, woman, and
child between the Rio Grande and Tierra del Fuego. The debt
represented more than half of the region's gross domestic product,
and interest payments alone consumed 36 percent of export revenues.
If profits are added to interest, and the total compared to new
capital inflows, the drama of the situation becomes clear: a real
resource transfer from Latin American was under way. More than
three-fourths of Latin America's debt was owed to several hundred
commercial banks with headquarters in North America, Europe, and
Japan. Banker to the Third World examines why the loans that
precipitated the 1985 debt crisis were made, how these loans were
similar to, and different from, other loans, what solutions to the
crisis would be effective, and how such problems could be avoided
in the future. When originally published, this title presented a
new and timely analysis of the crisis; today it serves as a
historical exploration that will give readers a better
understanding of both Latin American economic history and more
recent foreign debt crises. This title is part of UC Press's Voices
Revived program, which commemorates University of California
Press's mission to seek out and cultivate the brightest minds and
give them voice, reach, and impact. Drawing on a backlist dating to
1893, Voices Revived makes high-quality, peer-reviewed scholarship
accessible once again using print-on-demand technology. This title
was originally published in 1987.
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