External debt: market and conflict
This essay suggests that the external debt of the Latin-American countries shouldbe considered as a form of conflict. This means that the confrontation of relative powershas to be acknowledged. As a conflict, it turns into a process in which the relations of creditorsand debtors develop through the...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1998 |
| País: | Brasil |
| Institución: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | portugués |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1112 |
| Acceso en línea: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1112 |
| Access Level: | acceso abierto |
| Palabra clave: | Dívida externa crise da dívida External debt debt crisis |
| Sumario: | This essay suggests that the external debt of the Latin-American countries shouldbe considered as a form of conflict. This means that the confrontation of relative powershas to be acknowledged. As a conflict, it turns into a process in which the relations of creditorsand debtors develop through the establishment of different strategies. Conventionaltreatment · of external indebtedness takes it as a problem and searches for its solution. Assuch, its nature tends ultimately to be considered as a market phenomenon. Technical andadministrative measures are then proposed to cope with the “debt crisis •. But in fact, negotiationbecomes the main characteristic of the conflict. A situation of financial deterrence isthen created to prevent a rupture in international financial flows. The unequal power of theparticipants fixes the limits of the confrontation as well as the incentives for cooperation. JEL Classification: H63; F34. |
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