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This book examines the interrelationship between the external debt problem and the consolidation of democracy in Latin America in the 1990s. It considers the interplay of actors, including creditor governments, international financial institutions, debtor countries, commercial banks, and multinational corporations, and environment in the new decade, focusing on whether or not Latin America's political regimes can strengthen and democratize their respective economies while continuing to guarantee the country's democratic politics.
The foreign debt problem casts an especially long shadow on the Latin American democracies. While important in its own right, understanding the Latin American experience is also essential in light of changes in Eastern Europe. Despite many obvious cultural differences and historical experiences, there are many parellels between the two regions--democratization at a time of economic crisis and of heavy external debt. This important new book underscores the lessons of the Latin American experience, making it essential reading for anyone concerned with the global economy.
List of contents
Foreword by Norman Bailey
Latin America in the 1990s: Democracy in Debt
Actors in the Latin American Debt Crisis I: The Creditor Governments
Actors in the Latin American Debt Crisis II: International Financial Organizations
Actors in the Latin American Debt Crisis III: The Domestic Actors
Actors in the Latin American Debt Crisis IV: The Commercial Banks
Social Conditions in Latin America
Regulatory Aspects of the Latin American Debt Crisis: Giving Up Laissez-Faire
Global Environment in the 1990s and the Prospects for Latin America
A Comparative View of Latin America and South Korea, Turkey, and Morocco
Selected Bibliography
Index
About the author
SCOTT B. MACDONALD is the International Economic Advisor at the Office of the Comptroller of the Currency in Washington, D.C. In this capacity, he monitors money laundering and monetary and macroeconomic developments in Europe, the Middle East, and Latin America. He is the author of
Dancing on a Volcano: The Latin American Drug Trade (Praeger, 1988),
Mountain High, White Avalanche: Cocaine and Power in the Andean States and Panama (Praeger, 1989), and
The Politics of the Caribbean Basin Drug Trade (Praeger, 1991).
JANE HUGHES is Adjunct Professor of Economics at Brandeis University's Lemberg Program in International Economics and Finance. She also serves as a Senior Advisor to Political Risk Services, a division of IBA, USA, and consults with multinational corporations on international investment issues. Hughes is the author of a major study on sovereign risk, and has published and lectured widely on international financial management.
UWE BOTT is a Senior Analyst with Moody's Investors Service and a citizen of Germany. Mr. Bott held the position of Programming Officer with the Inter-American Development Bank, where he designed country programming papers, the Bank's medium-term investment for its Latin American borrowing countries. He has published a number of articles on the economic and social development of Latin America.
