Cover image for Debt and crisis in Latin America : the supply side of the story
Debt and crisis in Latin America : the supply side of the story
Devlin, Robert.
Personal Author:
Publication Information:
Princeton, N.J. : Princeton University Press, [1989]

Physical Description:
xvi, 320 pages : illustrations ; 25 cm
General Note:
Includes index.
Format :


Call Number
Material Type
Home Location
Item Holds
HG3891.5 .D48 1989 Adult Non-Fiction Central Closed Stacks

On Order



Examining the causes of the acute Latin American debt crisis that began in mid-1982, North American analysts have typically focused on deficiencies in the debtor countries' economic policies and on shocks from the world economy. Much less emphasis has been placed on the role of the region's principal creditors--private banks--in the development of the crisis. Robert Devlin rounds out the story of Latin America's debt problem by demonstrating that the banks were an endogenous source of instability in the region's debt cycle, as they overexpanded on the upside and overcontracted on the downside.

Originally published in 1990.

The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Reviews 1

Choice Review

This book is an important contribution to an understanding of the Latin American debt crisis and its global implications. Although most analysts of this problem place the responsibility for the crisis almost completely with the Latin American borrowers, Devlin carefully makes the case that the lenders, mainly US banks, were equally anxious to lend. In short, if the Latin American nations were guilty of overborrowing, the banks were equally guilty of overlending. Devlin places the current debt crisis, which is only one of several during the last century, in its proper historical context without burdening the reader with a complete economic history of Latin America. He concludes with some innovative suggestions for resolving the crisis. The book compares favorably with other recent works on the same topic, such as Managing World Debt, ed. by Stephany Griffith-Jones (CH, May'89). Highly recommended to anyone who wishes to understand the Latin American debt crisis, particularly to bankers, many of whom apparently have only short-term memory. Public and academic collections, lower-division through graduate. -J. T. Peach, New Mexico State University