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The Role of the Banks

In: The Developing Country Debt Crisis

Author

Listed:
  • David F. Lomax

    (National Westminster Bank plc)

Abstract

The worldwide banking system put itself into a very exposed position in relation to developing country debt, and has been subject to a great deal of criticism. Perhaps the most vivid example of this are the views expressed by Anthony Sampson1, who expresses trenchant criticism of the banks for what he would term the irresponsibility of their behaviour. His book encompasses accurately many features of the situation, although I criticised it in a review (see The Banker, November 1981) for seeming to fish for examples of foolish behaviour by the banks. His book does not provide a complete historical assessment of the period since the first oil shock, but it is very entertaining — and if you are after a criticism of the banks, there it is.

Suggested Citation

  • David F. Lomax, 1986. "The Role of the Banks," Palgrave Macmillan Books, in: The Developing Country Debt Crisis, chapter 4, pages 59-87, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07765-6_4
    DOI: 10.1007/978-1-349-07765-6_4
    as

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