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Debt crises, political change and the state in the developing world

Briscoe, Ivan (2006) Debt crises, political change and the state in the developing world. [ Working Papers; nº 01/06, ]

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Abstract

Dealing with increasing foreign debt has become a key part of government strategy across the developing
world, particularly in wake of the payment crises that have shaken south-east Asia, Latin
America, Turkey and Russia over the past decade. This working paper seeks to analyze how the
political systems in these countries have adapted to the grave problems created by unpayable debt,
examining in the process the structure of modern global finance, the history of the state in the developing
world, and the demands placed upon governments by sudden rises in poverty and general
economic turmoil. Focusing on case-studies of Argentina, Indonesia and Zambia, the paper unpicks
the dynamics of these crises, suggesting that certain states have managed to strengthen their
freedom of action and authority by recasting their relations with the public at home and with foreign
lenders.

RESUMEN:
La gestión de la deuda externa se ha convertido en una pieza fundamental de las estrategias gubernamentales
en todo el mundo en desarrollo, sobre todo tras las crisis de pago que han sacudido el
Sudeste asiático, Latinoamérica, Turquía y Rusia a lo largo de la última década. Este documento de
trabajo busca analizar la forma en que los sistemas políticos de estos países se han adaptado a los
graves problemas provocados por las deudas impagables, examinando en el proceso la estructura
del actual régimen financiero mundial, la historia del Estado en el mundo en desarrollo, y las nuevas
demandas impuestas sobre los gobiernos, derivadas de los aumentos bruscos de la pobreza y la
turbulencia económica general. Por medio de tres casos prácticos, de Argentina, Indonesia y Zambia,
este documento de trabajo busca descifrar la dinámica de aquellas crisis, y sugiere que ciertos
Estados han logrado reforzar su libertad de acción y su autoridad por medio de una refundación de
sus relaciones con la ciudadanía y con los acreedores extranjeros.


Item Type:Working Paper or Technical Report
Uncontrolled Keywords:Foreign debt, Developing world, State capacity, Sovereignty, Debt crisis, Deuda externa, Mundo en desarrollo, Capacidad estatal, Soberanía, Crisis de deuda.
Subjects:Social sciences > Economics > Economic development
Series Name:Working Papers
Volume:
Number:01/06
ID Code:12936
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Deposited On:11 Jul 2011 06:56
Last Modified:06 Feb 2014 09:36

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