Week 4 – The Debt Crisis

In this session we will explore the issues of debt and development against the backdrop of the Third World debt crisis in the 1980s.

Lecture Prezi

Required Readings

Chapter 11 of O’Brien and Williams

Chapter 13 of Ravenhill

Theodore Cohn “Foreign debt and financial Crises”, Ch. 7 in Global Political Economy: Theory and Practice (3rd ed) (New York: Pearson Longman, 2005), pp. 181-230.

Miles Kahler, “Politics and International Debt: Explaining the Crisis”, International Organization, Vol.39, No.3 (1985), pp.357-382G. L.

Recommended Readings

Chapter 12 of Ravenhill

Chapter 7 of Chang

Charles Gore, “The rise and fall of the Washington Consensus as a paradigm for developing countries,” World Development 28, no. 5 (2000): 789-804.

Sarah Babb, “The Washington Consensus as transnational policy paradigm: Its origins, trajectory and likely successor.” Review of International Political Economy 20, no. 2 (2013): 268-297.

William Easterly, “How did heavily indebted poor countries become heavily indebted? Reviewing two decades of debt relief”, World Development, Vol. 30, No. 10 (Oct 2002), pp.1677-1696.

G. Locke and F. Z. Ahmadi-Esfahani, “The origins of the international debt crisis”, Comparative Studies in Society and History 40/2 (1998), pp.223-246.

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