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The class and social structure of developing nations has undergone profound transformation in recent decades as each nation has incorporated into an increasingly integrated global production and financial system. National elites have experienced a new fractionation. Emergent...
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The paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channelled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the distribution of foreign resources...
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which ensued, most developing countries responded to the crisis with a convoluted array of policies intended to stabilize … available evidence to compare the specifics of crisis responses. In this regard it differs from other policy response studies …
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debt increases in the run up to a crisis. But in the face of persistent primary deficits, debt service tends to rise … abruptly-particularly in emerging markets-and a fiscal crisis ensues. There is also evidence that a large part of the debt …
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