Trade and Development Report 1988

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This publication identifies the key issues in the global economy and the design of development strategies addressed in the Trade and Development Report over the past three decades, tracing them through its various editions. It shows how ideas, opinions and proposals expressed in the Trade and Development Report, and the analytical approaches used, differed from those of “the mainstream” and their evolution in response to new challenges. This review revisits the concept of interdependence and explains the approach of the reports to macroeconomic and financial policies in both developed and developing countries. It also summarizes development policy failures and successes over the years.



Debt and development

The debt crisis of the 1980s can be traced in part back to the mid-1970s. Although neither widespread debt-servicing difficulties nor over-exposure occurred in those years, and a "debt explosion" was avoided, borrowing from commercial sources began to assume a disproportionately large role. The responsibility for this was shared by the debtors, creditors, creditor governments and international financial agencies.


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