Debt Problems and the World Macro Economy
This paper investigates the role of interest rates, commodity prices, growth in bringing the debt crisis about and how they facilitated or made more difficult the first five years of adjustment. We also ask whether and how the world macroeconomy is likely to contribute to the solution of the debt problem in the next five years.
Developing Country Debt and Economic Performance; Vol. 1, The International Financial System, edited by Jeffrey D. Sachs. Chicago: The University of Chicago Press, 1989.