A real imports of capital and intermediate goods declined sharply for highlyindebted countries in the 1980s, these economies were faced with the need tosubstitute previously imported factors of production with domestic capital and labor. The study empirically analyzes the degree of import...

The paper presents a non-technical survey of some of the issues involved in the design of stabilization policy 10 developng countries with special emphasis on policy responses to external shocks. First, the six imost imortant external economic parameters of developing countries are reviewed; I)...

For dozens of developing countries, the financial upheavals of the 1980s have set back economic development by a decade or more. Poverty in those countries have intensified as they struggle under the burden of an enormous external debt. In 1988, more than six years after the onset of the crisis,...