Vol. 15 No. 3 (1995)
Jul-Sep / 1995
Published July 1, 1995
How to Cite
Devlin, Robert, and Ricardo Ffrench-Davis. 1995. “The Great Latin America Debt Crisis: A Decade of Asymmetric Adjustment”. Brazilian Journal of Political Economy 15 (3):418-45. https://doi.org/10.1590/0101-31571995-0838.
The great Latin America debt crisis: a decade of asymmetric adjustment
Abstract
Latin America has entered a new phase of abundance of capital inflows, bearing
some resemblance to the episode of 70’s. In this paper a review is made of the origins of indebtment
in the 70’s, of the emergence of the crisis in the early 80’s, and of the management
by creditors and debtors during that decade. Some lessons are derived about the working of
international financial markets and policy implications.
JEL Classification: F11; F31; F34.
Keywords: Capital flows currency crisis stabilization debt crisis