Chapter Outline
I. Advantages and Disadvantages of Foreign Borrowing
II. Debt Sustainability
III. Debt Indicators
IV. From Distress to Default
A. The 1980s Debt Crisis
B. Causes of the Crisis
C. Impact on the Borrowers
D. Escape from the Crisis, for Some Countries
V. The Debt Crisis in Low-Income Countries
A. Debt Reduction in Low-Income Countries
B. The Heavily Indebted Poor-Country Initiative
VI. Emerging Market Financial Crises
A. Domestic Economic Weaknesses
B. Short-Term Capital Flows
C. Creditor Panic
D. Stopping Panics
E. Lessons from the Crises
Section Menu
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