A sudden and radical reversal of financial flows to developing countries has occurred since 1982. Controversy exists, however, as to the scale of the actual outflow of resources and as to whether too much emphasis has been placed in the past on adjustment efforts. The following article attempts...

So far, it has been possible to stave off really serious consequences for the world economy and the international financial system since the developing-country debt crisis started in 1982. Yet for many developing countries, external debt problems and the underlying economic crisis are as...

The increasing differentiation among developing countries, revealed by many indicators, also suggests that they have need of differing trade and development strategies. The following article reviews the across-the-board advice offered by agencies including the World Bank to “the” developing...

A fundamental change is emerging in the World Bank's perception of the problems of the debt overhang and in its ideas for development strategies. The author examines the implications for debtor countries.