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...

One of the arguments put forward to support the claim that an unfavourable world economic environment is impeding effective structural adjustment in developing countries is the premise that the flow of resources to indebted developing countries is not only insufficient but also declining and has...