Since the summer of 1982 the banking community has been faced with an international debt crisis of unprecedented dimensions. The debt rescheduling agreements that have been negotiated since then involve sums totalling no less than $ 100 billion. However, they give the international financial...

Disappointment about the results of import substituting industrialization strategies as well as the spectacular performance of a few newly industrialised countries have led many developing countries to switch in the 1970s to export oriented industrialization. This analysis cautions against any...

The maldevelopments due to aid-tied growth-maximisation strategies of the past decades have led to cynicism, and sometimes downright opposition to aid donation by taxpayers in the industrialised countries. On the other hand, radicals in the developing countries view aid as a Trojan horse to...