Table of Contents:
  • Introduction / Deepak Lal and Martin Wolf
  • Developing countries in the 1930s : possible lessons for the 1980s / Angus Maddison
  • The slowdown of the world economy and the problem of stagflation / Gottfried Haberler
  • Systemic risk and developing country debt / Robert Z. Lawrence
  • A description of adjustment to external shocks : country groups / Pradeep K. Mitra
  • The oil syndrome : adjustment to windfall gains in oil-exporting countries / Alan Gelb
  • The debt crisis in Latin America / Larry A. Sjaastad, Aquiles Almansi, and Carlos Hurtado
  • Government deficits, the real interest rate, and developing country debt : on global crowding out / Deepak Lal and Sweder van Wijnbergen
  • Debt, deficits, and distortions / Deepak Lal and Martin Wolf.
  • Appendix 1. : OECD deficits, debt, and savings structure and trends, 1965-81 : a survey of the evidence / Leonardo Hakim and Christine Wallich
  • Appendix 2. : ICORS, savings rates, and the determinants of public expenditure in developing countries / Constantino Lluch.