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International Finance and the Less Developed Countries (Studies in Banking & International Finance)
International Finance and the Less Developed Countries - Studies in Banking & International Finance Author:Kate Phylaktis, Mahmood Pradhan The foreign debt crisis broke in 1982. A decade later the foreign indebtedness of LDCs is even higher and the focus of attention has shifted from concern on the stability of the international financial system to how LDCs can cope with the debt problem. This volume considers issues on the management of foreign debt and the macroeconomic policies ... more »that LDCs should pursue. What is the scope of securitization and debt reduction via voluntary conversions? What are the merits of the various voluntary conversion schemes such as debt equity swaps and debt currency swaps? Are the IMF-supported adjustment programmes effective? What is the effect of financial liberalization on bankruptcies? What is the effect of foreign exchange controls on the domestic financial market? Can inflation further economic development? These are some of the questions asked in the volume. The book will be of use and interest to academics, to economic policy makers and to the foreign debt negotiators involved in the Brady plan.« less