Debt Cycles in the World-Economy: Foreign Loans, Financial Crises, and Debt Settlements, 1820-1990
Product DescriptionIntegrating a world-system perspective with historical case studies and empirical data, the author demonstrates the cyclical character of external indebtedness since the beginning of industrial capitalism in the early 19th century. Against this background, the author explains the current global debt crisis, in which creditor nations are encountering increasing problems servicing the massive debts [...]

