Latin America and the International Lending Organizations: The Ties that Bind.
Abstract
This thesis focuses on linkages between the international financial community and political systems in the region. A major theme of this interrelationship is that the nature of the growth models selected by most nations in Latin America has created the conditions for international lending organizations to act as important power contenders within the domestic political process. Without being a full participant in the process, these organizations are able to place demands upon the system and have these demands satisfied. They are able to require implementation of stabilization programs that often do not coincide with domestic goals and programs. The growth of regional external indebtedness has hardened the nature of unequal dependent linkages between lender and debtor, especially with respect to the most heavily indebted countries. Stabilization programs required by international lenders as a condition for continued access to foreign currency so urgently demanded by the indebted nations of the region are inherently disadvantageous to the majority of those nations' citizens and national entrepreneurs. Because of the problems associated with the application of these stabilization programs, this thesis concludes that there are significant linkages between external public indebtedness, requirements for domestic stabilization programs as problems in debt servicing arise, and the installation of authoritarian regimes to impose stabilization measures. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 23, 1980
- Accession Number
- ADA088907
Entities
People
- Richard B. Brown