In the worldwide economic and debt crisis of the eighties the International Monetary Fund increasingly became the “lender of last resort” for a great many Third World countries. With world trade weak and interest rates high, a considerable number of developing countries got into serious...

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...

The flight of capital from the highly indebted developing countries undoubtedly constitutes one of the most serious problems that are making the international debt crisis difficult if not impossible to resolve. Dr. Nölling outlines some suggestions for action which could limit capital flight...

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....

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...