The last decade has witnessed the emergence of a more global economy reflecting the continued rise in trade (especially of manufactures) as a proportion of output, a major shift of international specialisation, faster diffusion of technical progress and the globalisation of financial markets....

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.

Despite decades of efforts, it has not yet been possible to integrate the developing countries satisfactorily into the world economy. Professor Glastetter examines the reasons for the failure of the integration strategies pursued hitherto and discusses the prospects of success with alternative...

The debt crisis that has been rumbling for many years repeatedly necessitates fresh rescheduling negotiations. These debt rescheduling conferences bring together two fundamentally different partles: on the one side are the emissaries from the big international banks and on the other the...

When the international debt crisis broke in 1982 it appeared for a time that the crisis might engulf the international banking system. What part did the banks play in the creation of the problem? What was their role in overcoming the crisis? Dr. Otmar Emminger, former President of the Deutsche...