Scholars and practitioners from the fields of economics, political science, sociology, and government discuss the nature and importance of debt in the international system and question whether international debt is a necessary element of international development or a potential root of international economic collapse (and of the demise of the dollar as denominator of the monetary realm). They then turn specifically to the impact of external debt on developing countries, exploring the potential for both positive and negative effects. In the final section of the book they look at the interactions between debtors and creditors when loans begin to sour.

part One|122 pages

The Expansion of External Debt within the Less Developed Countries

chapter |3 pages


Edited ByJonathan David Aronson

chapter 1|20 pages

Debt and Default in the International Political Economy

BySusan Strange

chapter 2|29 pages

International Public Lending and American Policy

ByBrian G. Crowe

chapter 3|45 pages

Private Overseas Lending: Too Far, Too Fast?

ByJane D'Arista

part Two|93 pages

Debt and Development

chapter |4 pages


Edited ByJonathan David Aronson

chapter 5|28 pages

Bankers as Revolutionaries in the Process of Development

ByClark W. Reynolds

chapter 6|13 pages

Debt, Indenture, and Development

ByArthur B. Laffer

chapter 8|25 pages

Political Economy of International Debt: The Dynamics of Financial Capital

ByR. Peter DeWitt, James F. Petras

part Three|117 pages

The Politics of International Debt Renegotiations

chapter |5 pages


Edited ByJonathan David Aronson

chapter 9|27 pages

Peru and the U.S. Banks: Privatization of Financial Relations

ByBarbara Stallings

chapter 11|33 pages

The Politics of Private Bank Lending and Debt Renegotiations

ByJonathan David Aronson

chapter 12|17 pages

The IMF, Commercial Banks, and Third World Debts

ByCharles Lipson