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Developing Country Debt and Economic Performance, v. 3 - Country Studies - Indonesia, Korea, Philippines, Turkey (Hardcover, New)
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Developing Country Debt and Economic Performance, v. 3 - Country Studies - Indonesia, Korea, Philippines, Turkey (Hardcover, New)
Series: National Bureau of Economic Research Project Reports
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For dozens of developing countries, the financial upheavals of the
1980s have set back economic development by a decade or more.
Poverty in those countries has intensified as they struggle under
the burden of an enormous external debt. In 1988, more than six
years after the onset of the crisis, almost all the debtor
countries were still unable to borrow in the international capital
markets on normal terms. Moreover, the world financial system has
been disrupted by the prospect of widespread defaults on those
debts. Because of the urgency of the present crisis, and because
similar crises have recurred intermittently for at least 175 years,
it is important to understand the fundamental features of the
international macroeconomy and global financial markets that have
contributed to this repeated instability.
This project on developing country debt, undertaken by the National
Bureau of Economic Research, provides a detailed analysis of the
ongoing developing country debt crisis. The project focuses on the
middle-income developing countries, particularly those in Latin
America and East Asia, although many lessons of the study should
apply as well to other, poorer debtor countries. The project
analyzes the crisis from two perspectives, that of the
international financial system as a whole (volume 1) and that of
individual debtor countries (volumes 2 and 3).
This third volume contains lengthy and detailed case studies of
four very different Asian countries--Turkey, Indonesia, Korea, and
the Philippines.
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