From the Debt Crisis to Sustainable Development: Changing Perspectives on North-South Relationships

The book addresses the problem of the foreign debt of less developed countries; it examines its impact on their development possibilities and it analyses the lessons that both economic theory and policy should draw from the debt crisis. Long-term sustainable development is the only way to avoid further economic crises in the Third World, but it can only be achieved by means of a comprehensive approach directly aiming at long-term growth and involving a re-thinking of trade relationships between low and high-income countries.