Anglický jazyk

Lessard, D: North-South Finance

Vydavateľstvo: Forgotten Books
Formát: Paperback
Jazyk: Anglický jazyk
ISBN: 9781334476518

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O knihe

Excerpt from North-South Finance: The Implications of Overreliance on Bank Credit

The absolute growth in ldg external financing has been accompanied by substantial shifts in the composition of ldg obligations. The most striking change, documented in Table 1, is the increase in debt relative to direct foreign investment, the only significant category of risk financing for most ldcs. Total debt rose from 69 percent of total ldg obligations in 1973 to 83 percent in 1981. Further, short - term debt grew more quickly than long-term debt and debt from private sources, primarily commercial banks, outstripped official lending. However, this privatization on the lending side was not accompanied by a similar shift on the borrowing side. Rather, the proportion of long - term debt owed by or guaranteed by ldg governments rose from 74 to 79 percent.

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