Global financing: a bad medicine for developing countries JOAquíN ARRIOLA

The context1 The long cycle of financial crisis – from the European Monetary System in 1993, the Mexican crisis in 1994, Southeast Asia in 1997, the Russian crisis of 1998 or the Nasdaq crisis in 2000, until the crisis in the interbank lending market in 2007 – has generated a rich academic and social debate, which has so far only been able to come to certain partial and tentative conclusions.