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- W2012316059 abstract "Latin American governments' catastrophic accumulation of foreign debt is still their most pressing concern-not so much because it continues to limit external financial resources and to bring internal economic growth to a standstill, but because macroeconomic remedies for the crisis are so politically charged. With financial resources scarce, governments are forced to make difficult decisions about which social classes will bear the brunt of austerity and which will receive the nation's limited resources. Predictably, these decisions are never benign. They generate serious social conflicts, in turn challenging the capacity of national governments to implement these policies. While macroeconomic policies have always generated debate and dissatisfaction in Latin American countries, there is evidence that the current conflicts are somewhat different. For one thing, debt crisis has brought widespread dissatisfaction, not only among the working class and the urban poor, but also among the middle classes and some sectors of the business community. All of them suffer from the inflation, scarce credit, unemployment, reduced public spending, and the growing power of internationally linked firms that accompany debt crisis and its attendant stabilization policies. Because these disparate class forces all have a reason to reject stabilization policies-although often for slightly different reasons-they often join together to oppose regimes that impose these policies. When placing coun-" @default.
- W2012316059 created "2016-06-24" @default.
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- W2012316059 date "1989-09-01" @default.
- W2012316059 modified "2023-09-27" @default.
- W2012316059 title "Debts, doubts, and disciplines" @default.
- W2012316059 doi "https://doi.org/10.1007/bf01115020" @default.
- W2012316059 hasPublicationYear "1989" @default.
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