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The Role of Incomes Policies in the Adjustment Process of Debtor Countries

In: Incomes Policies

Author

Listed:
  • Ariel Buira

    (Bank of Mexico)

Abstract

Developing countries have faced serious external debt difficulties since mid-1982 (see Table 5.1). Despite the initial approach to deal with such problems — based on a joint effort by creditors, debtors and international financial institutions — the external debt crisis persists. In most countries the benefits of adjustments efforts have so far been lower, and the economic and social costs higher, than initially expected. Partially as a consequence of the above, commercial banks have not been willing to resume lending on a voluntary basis. This has given rise to growing political pressures and concerns among the governments of creditor and debtor countries.

Suggested Citation

  • Ariel Buira, 1989. "The Role of Incomes Policies in the Adjustment Process of Debtor Countries," International Economic Association Series, in: Victor L. Urquidi (ed.), Incomes Policies, chapter 5, pages 84-101, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-20381-9_5
    DOI: 10.1007/978-1-349-20381-9_5
    as

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