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: | Repositório Institucional da UNESP |
Texto Completo: | http://dx.doi.org/10.1590/S0101-31572005000300003 http://hdl.handle.net/11449/28177 |
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.Universidade Estadual Paulista Departamento de EconomiaUniversidade Estadual Paulista Departamento de EconomiaEditora 34Universidade Estadual Paulista (Unesp)Cinquetti, Carlos Alberto [UNESP]2014-05-20T15:11:51Z2014-05-20T15:11:51Z2005-09-01info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article209-223application/pdfhttp://dx.doi.org/10.1590/S0101-31572005000300003Revista de Economia Política. Editora 34, v. 25, n. 3, p. 209-223, 2005.0101-3157http://hdl.handle.net/11449/2817710.1590/S0101-31572005000300003S0101-31572005000300003S0101-31572005000300003.pdf5827914674661969SciELOreponame:Repositório Institucional da UNESPinstname:Universidade Estadual Paulista (UNESP)instacron:UNESPengRevista de Economia Política0,282info:eu-repo/semantics/openAccess2024-06-10T19:42:37Zoai:repositorio.unesp.br:11449/28177Repositório InstitucionalPUBhttp://repositorio.unesp.br/oai/requestopendoar:29462024-08-05T22:09:05.427313Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP)false |
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 [UNESP] 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 [UNESP] |
author_facet |
Cinquetti, Carlos Alberto [UNESP] |
author_role |
author |
dc.contributor.none.fl_str_mv |
Universidade Estadual Paulista (Unesp) |
dc.contributor.author.fl_str_mv |
Cinquetti, Carlos Alberto [UNESP] |
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 2014-05-20T15:11:51Z 2014-05-20T15:11:51Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://dx.doi.org/10.1590/S0101-31572005000300003 Revista de Economia Política. Editora 34, v. 25, n. 3, p. 209-223, 2005. 0101-3157 http://hdl.handle.net/11449/28177 10.1590/S0101-31572005000300003 S0101-31572005000300003 S0101-31572005000300003.pdf 5827914674661969 |
url |
http://dx.doi.org/10.1590/S0101-31572005000300003 http://hdl.handle.net/11449/28177 |
identifier_str_mv |
Revista de Economia Política. Editora 34, v. 25, n. 3, p. 209-223, 2005. 0101-3157 10.1590/S0101-31572005000300003 S0101-31572005000300003 S0101-31572005000300003.pdf 5827914674661969 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Revista de Economia Política 0,282 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
209-223 application/pdf |
dc.publisher.none.fl_str_mv |
Editora 34 |
publisher.none.fl_str_mv |
Editora 34 |
dc.source.none.fl_str_mv |
SciELO reponame:Repositório Institucional da UNESP instname:Universidade Estadual Paulista (UNESP) instacron:UNESP |
instname_str |
Universidade Estadual Paulista (UNESP) |
instacron_str |
UNESP |
institution |
UNESP |
reponame_str |
Repositório Institucional da UNESP |
collection |
Repositório Institucional da UNESP |
repository.name.fl_str_mv |
Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP) |
repository.mail.fl_str_mv |
|
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1808129397585084416 |