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...

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.

A long road to substantive levels of industrialization still lies ahead of most developing countries. The challenges facing policy-makers and industrialists in these countries are enormous. What role should the international community play in the second half of the '90s to support these...

The Pros and Cons of direct investment promotion measures in overseas countries have recently become the subject of fierce controversy in all industrialised countries, including the Federal Republic of Germany. Advocates and opponents of such measures, however, almost exclusively try to analyse...

There is growing awareness that some fundamental change has for some time been affecting the major European economies, involving a shift of manufacturing away from the developed market economies of Europe towards the developing countries. The following article analyses the process of European...