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New Global Financial Trends: Implications for Development*

Published online by Cambridge University Press:  02 January 2018

Stepbany Griffith-Jones  and
Barbara Stallings
Stepbany Griffith-Jones
Affiliation:
Institute of Development Studies at Sussex University in England
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Extract

One of the most dramatic political-economic changes over the last 15 years has been the shift in patterns of international finance. At the beginning of the 1980s, a select group of prosperous Third World nations had privileged access to an enormous volume of commercial bank credit. They could also attract fairly important levels of direct investment. For all practical purposes, finance was no longer a binding constraint on the development strategies of this group of countries. Although poorer developing nations could not rely on private credit or investment, many of them had access to substantial amounts of funds via bilateral donors and the multilateral institutions.

Type
Research Article
Information
Journal of Interamerican Studies and World Affairs , Volume 37 , Issue 3: Special Issue: Report on Neoliberal Restructuring , Fall 1995 , pp. 59 - 98
Copyright
Copyright © University of Miami 1995

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Footnotes

**

The authors wish to thank Phil Ruder for valuable assistance with the statistical work in this article.

*

The journal is pleased to bring to its readers this thoughtful analysis which will appear in the forthcoming book edited by Barbara Stallings and entitled Global Change, Regional Response: The New International Context of Development (Cambridge University Press, 1995).

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