The debt crisis: a re-appraisal
Autor(a) principal: | |
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Data de Publicação: | 2005 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Revista de Economia Política |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572005000300003 |
Resumo: | The 1980s' debt crisis is a landmark in developing economies' growth and stabilization. According to the most quoted empirical articles, external shocks and vicissitudes gave rise to crisis just because of delays in stabilization policies, engendered by internal conflicts and institutional immaturity. I review some of these papers, and find out some problems - in the measurement of shocks and foreign indebtedness, namely - whose corrections lead to opposite results: external shocks and foreign indebtedness explain that crisis regardless of domestic policies. At the same time, the strong correlation of income distribution to terms of trade changes and foreign indebtedness suggest that inequality may have contributed differently to that crisis: either through an economic channel, or through a political channel based on delays in reforms. |
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The debt crisis: a re-appraisalExternal ShocksIndebtednessDebt CrisisStabilization PoliciesTrade ProtectionPolitical EconomyThe 1980s' debt crisis is a landmark in developing economies' growth and stabilization. According to the most quoted empirical articles, external shocks and vicissitudes gave rise to crisis just because of delays in stabilization policies, engendered by internal conflicts and institutional immaturity. I review some of these papers, and find out some problems - in the measurement of shocks and foreign indebtedness, namely - whose corrections lead to opposite results: external shocks and foreign indebtedness explain that crisis regardless of domestic policies. At the same time, the strong correlation of income distribution to terms of trade changes and foreign indebtedness suggest that inequality may have contributed differently to that crisis: either through an economic channel, or through a political channel based on delays in reforms.Centro de Economia Política2005-09-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572005000300003Brazilian Journal of Political Economy v.25 n.3 2005reponame:Revista de Economia Políticainstname:EDITORA 34instacron:EDITORA_3410.1590/S0101-31572005000300003info:eu-repo/semantics/openAccessCinquetti,Carlos Albertoeng2005-09-12T00:00:00Zoai:scielo:S0101-31572005000300003Revistahttps://centrodeeconomiapolitica.org.br/repojs/index.php/journalONGhttps://centrodeeconomiapolitica.org.br/repojs/index.php/journal/oai||cecilia.heise@bjpe.org.br1809-45380101-3157opendoar:2005-09-12T00:00Revista de Economia Política - EDITORA 34false |
dc.title.none.fl_str_mv |
The debt crisis: a re-appraisal |
title |
The debt crisis: a re-appraisal |
spellingShingle |
The debt crisis: a re-appraisal Cinquetti,Carlos Alberto External Shocks Indebtedness Debt Crisis Stabilization Policies Trade Protection Political Economy |
title_short |
The debt crisis: a re-appraisal |
title_full |
The debt crisis: a re-appraisal |
title_fullStr |
The debt crisis: a re-appraisal |
title_full_unstemmed |
The debt crisis: a re-appraisal |
title_sort |
The debt crisis: a re-appraisal |
author |
Cinquetti,Carlos Alberto |
author_facet |
Cinquetti,Carlos Alberto |
author_role |
author |
dc.contributor.author.fl_str_mv |
Cinquetti,Carlos Alberto |
dc.subject.por.fl_str_mv |
External Shocks Indebtedness Debt Crisis Stabilization Policies Trade Protection Political Economy |
topic |
External Shocks Indebtedness Debt Crisis Stabilization Policies Trade Protection Political Economy |
description |
The 1980s' debt crisis is a landmark in developing economies' growth and stabilization. According to the most quoted empirical articles, external shocks and vicissitudes gave rise to crisis just because of delays in stabilization policies, engendered by internal conflicts and institutional immaturity. I review some of these papers, and find out some problems - in the measurement of shocks and foreign indebtedness, namely - whose corrections lead to opposite results: external shocks and foreign indebtedness explain that crisis regardless of domestic policies. At the same time, the strong correlation of income distribution to terms of trade changes and foreign indebtedness suggest that inequality may have contributed differently to that crisis: either through an economic channel, or through a political channel based on delays in reforms. |
publishDate |
2005 |
dc.date.none.fl_str_mv |
2005-09-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572005000300003 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S0101-31572005000300003 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/S0101-31572005000300003 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
Centro de Economia Política |
publisher.none.fl_str_mv |
Centro de Economia Política |
dc.source.none.fl_str_mv |
Brazilian Journal of Political Economy v.25 n.3 2005 reponame:Revista de Economia Política instname:EDITORA 34 instacron:EDITORA_34 |
instname_str |
EDITORA 34 |
instacron_str |
EDITORA_34 |
institution |
EDITORA_34 |
reponame_str |
Revista de Economia Política |
collection |
Revista de Economia Política |
repository.name.fl_str_mv |
Revista de Economia Política - EDITORA 34 |
repository.mail.fl_str_mv |
||cecilia.heise@bjpe.org.br |
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1754122480081960960 |