Skip to main content

The Great Latin American Debt Crisis: Ten Years of Asymmetric Adjustment

  • Chapter
Poverty, Prosperity and the World Economy

Abstract

In the 1980s, Latin America experienced the worst economic crisis since the world-wide depression of the 1930s. A common link running through this crisis was external indebtedness with the international private banking system.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

eBook
USD 16.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 16.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

References

  • Altimir, O. and R. Devlin (1993), ‘An Overview of Debt Moratoria in Latin America’, Development Policy Review, December, pp. 339–67.

    Google Scholar 

  • Bouzas, R. and R. Ffrench-Davis (eds) (1990), Conversión de deuda externa y financiación del desarrollo en América Latina (Buenos Aires: Grupo Editor Latinoamericano).

    Google Scholar 

  • Calvo, G., E. Leiderman and C. Reinhart (1993), ‘Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors’, IMF Staff Papers, Vol. 40, no. 1, March.

    Google Scholar 

  • Cline, W. (1984), International Debt: Systemic Risk and Policy Response (Washington, DC: Institute for International Economías).

    Google Scholar 

  • Devlin, R. (1987), ‘Economía restructuring in Latin America in the face of the foreign debt and the external transfer problem’, CEPAL Review, No. 32, Santiago, Chile, August.

    Google Scholar 

  • Devlin, R. (1989), Debt and Crisis in Latin America: The Supply Side of the Story, (Princeton: Princeton University Press).

    Google Scholar 

  • ECLAC (1964), External Financing in Latin America New York United Nations publication, Sales No. 65.II.G.4.

    Google Scholar 

  • ECLACE(1984), ‘Política de ajuste y renegociación de la deuda en América Latina’, Cuaderno de la CEPAL No. 48 Santiago, Chile, United Nations publication, Sales No. S.84.II.G.18.

    Google Scholar 

  • ECLAC (1988), ‘The Evolution of the External Debt Problem in Latin America and the Caribbean’, Estudios e Informes de la CEPAL No. 72, Santiago, Chile, United Nations publication, Sales No. E.88.II.G.10.

    Google Scholar 

  • ECLACE(1990), Latin America and the Caribbean: Options to Reduce the Debt Burden Santiago, Chile, United Nations publication, Sales No. E.90.II.G.7.

    Google Scholar 

  • ECLAC (1992), Equidad y transformación productiva: Un enfoque integrado Santiago, Chile, United Nations publications, Sales No. LC/G.1701/Rev.1-P.

    Google Scholar 

  • ECLAC (1993), Economic Survey of Latin America and the Caribbean, 1991 Santiago, Chile, United Nations publication, Sales No. E.92.II.G.2.

    Google Scholar 

  • ECLAC(1994), Políticas para Mejorar la Inserción en la Economía Mundial (LC/G. 1800 SES.25/3), Santiago, Chile.

    Google Scholar 

  • Feinberg, R., and R. Ffrench-Davis (eds) (1988), Development and Debt in Latin America (Indiana: University of Notre Dame Press).

    Google Scholar 

  • Ffrench-Davis, R. (1982), ‘External debt and balance of payments of Latin America. Recent trends and outlook’, Economía and Social Progress in Latin America, Washington, DC, Inter-American Development Bank (IDB).

    Google Scholar 

  • Ffrench-Davis, R. F(ed.) (1983), Relaciones financieras externas y su efecto en la economía latinoamericana, México, D.F., Fondo de Cultura Económica.

    Google Scholar 

  • Ffrench-Davis, R. (1984), ‘International private lending and borrowing strategies of developing countries’, Journal of Development Planning (New York: United Nations).

    Google Scholar 

  • Ffrench-Davis, R. and O. Muñoz (1991), ‘The Latin American economy from the 1950s to the 1980s’, in P. Meller (ed.), The Latin American Debate: Neostructuralism, Monetarism and Adjustment Processes (Boulder, Colorado: Westview Press).

    Google Scholar 

  • Ffrench-Davis, R., O. Muñoz and G Palma (1994), ‘Latin America in the International Economy, 1950–90’, in L. Bethell (ed.), Cambridge History of Latin America, Vol. VI (Cambridge: Cambridge University Press.

    Google Scholar 

  • Fishlow, A. (1983), ‘La deuda externa de América Latina: ¿problema o soluci6n?’, in R. Ffrench-Davis (ed.), Relaciones financieras externas y su efecto en la economía latinoamericana, México, D.F., Fondo de Cultura Económica.

    Google Scholar 

  • Kindleberger, C. (1978), Manias, Panics and Crashes (New York: Basic Books).

    Google Scholar 

  • Kraft, J. (1984), The Mexican Rescue (New York: Group of Thirty).

    Google Scholar 

  • Lessard, D. and J. Williamson (1987), Capital Flight (Washington, DC, Institute for International Economías).

    Google Scholar 

  • Massad, C. and R. Zahler (eds) (1988), Deuda interna y estabilidad financiera: estudios de casos (Buenos Aires: Grupo Editor Latinoamericano).

    Google Scholar 

  • Nowzad, B. et al (1981), ‘External Indebtedness of Developing Countries’, Occasional Paper No. 3 (Washington, DC: International Monetary Fund).

    Google Scholar 

  • O’Donnell, G. (1985), ‘External debt: Why don’t our governments do the obvious?’ CEPAL Review No. 27, Santiago, Chile, December.

    Google Scholar 

  • Ramos, J. (1986), Neoconservative Economías in the Southern Cone of Latin America, 1973–83 (Baltimore: Johns Hopkins University Press).

    Google Scholar 

  • Rodriguez, E. and S. Griffith-Jones (eds) (1992), Cross-Conditionality, Banking Regulation and Third World Debt (London: Macmillan).

    Google Scholar 

  • Schadler, Susan, Maria Carkovic, Adam Bennett and Robert Kohn (1993), ‘Recent Experience with Capital Inflows’, Washington, DC, International Monetary Fund, Occasional Paper No. 108.

    Google Scholar 

  • Skiles, M. (1988), ‘Latin America International Loan Defaults in the 1930s: Lessons for the 1980s?’, Research Paper No. 8812, New York, Federal Reserve Bank of New York, April.

    Google Scholar 

  • Tussie, D. (1988), ‘La coordinación de los deudores latinoamericanos: cuál es la 1ógica de su accionar’, Deuda externa, renegociacion y ajuste en América Latina, in S. Griffith-Jones (ed.), México, D.F., Fondo de Cultura Económica.

    Google Scholar 

  • Williamson, J. (1983), ‘Problemas y escenarios de los mercados internacionales de capitales y la deuda externa’, in R. Ffrench-Davis (ed.), Relaciones financieras externas y su efecto en la economfa latinoamericana, México, D.F., Fondo de Cultura Económica.

    Google Scholar 

  • Wionczek, M. (ed.) (1985), Politics and Economías of External Debt Crisis (Boulder, Colorado: Westview Press).

    Google Scholar 

Download references

Authors

Editor information

Editors and Affiliations

Copyright information

© 1995 Gerry Helleiner, Shahen Abrahamian, Edmar Bacha, Roger Lawrence and Pedro Malan

About this chapter

Cite this chapter

Devlin, R., Ffrench-Davis, R. (1995). The Great Latin American Debt Crisis: Ten Years of Asymmetric Adjustment. In: Helleiner, G., Abrahamian, S., Bacha, E., Lawrence, R., Malan, P. (eds) Poverty, Prosperity and the World Economy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-13658-2_3

Download citation

Publish with us

Policies and ethics