Debt and Disorder: External Financing for Development

Abstract

Cover -- Half Title -- About the Book and Author -- Title -- Copyright -- Dedication -- Contents -- List of Tables -- Foreword -- Acknowledgments -- 1 The Nature and Origins of Economic Instability in the Third World -- The Symptoms of Third World Economic Crisis -- External Shocks and the Crisis of the Third World -- Explaining Economic Instability in Industrialized Capitalist Countries -- Notes -- 2 Domestic Policies of Stabilization and Adjustment -- On Finance and Adjustment -- On Stabilization Versus Structural Adjustment -- Policy Instruments of Stabilization and Structural Adjustment -- Alternative Policy Prescriptions -- Notes -- 3 Transnational Bank Finance and Structural Adjustment in Third World Countries -- Introduction -- The Growth of Third World Debt and the Debt Crisis -- Proximate Causes of the Debt Crisis -- Bank Vulnerability to the Debt Crisis -- The Attractiveness of the Third World Debt Market -- The Assessment of Creditworthiness -- The Attractions and Shortcomings of Bank Finance to Third World Countries -- Managing the Debt Crisis -- Medium-Term Prospects -- Notes -- 4 The International Monetary Fund -- Introduction -- The Structure of the Fund -- Fund Resources and Facilities -- Two Approaches to Crisis Management: The Fund Before and After 1981 -- Conditionality in Fund Stabilization Programs -- The Performance of IMF Programs in Terms of Their Own Objectives -- The Fund, the Major Debtors and the Banks -- Notes -- 5 The World Bank and Structural Adjustment -- Nature, Size and Terms of Structural Adjustment Loans -- The Conditionality of Structural Adjustment Loans and Its Rationale -- Formulation and Monitoring -- Relationships Between the World Bank and the Fund -- Assessment of Structural Adjustment Lending -- Concluding Observation -- Notes -- 6 Aid and the Economic Crisis -- Introduction -- Trends in Aid Flows.