Developing countries' external debt and international financial integration
This paper assesses the dynamics of developing and emerging countries external debt and
financial vulnerability. It is argued that, although current account positions do have a role in
accumulating external liabilities, developing countries' vulnerability primarily lie in their
increasing financial integration, which has resulted in the growth of their cross-border assets
and liabilities. Rather than government falling into net indebtedness, which actually fell in
many countries in recent years, developing countries are now more likely to be hit by …
financial vulnerability. It is argued that, although current account positions do have a role in
accumulating external liabilities, developing countries' vulnerability primarily lie in their
increasing financial integration, which has resulted in the growth of their cross-border assets
and liabilities. Rather than government falling into net indebtedness, which actually fell in
many countries in recent years, developing countries are now more likely to be hit by …
[PDF][PDF] Developing Countries' External Debt and International Financial Integration
This paper assesses the dynamics of developing and emerging countries external debt and
financial vulnerability. It is argued that, although current account positions do have a role in
accumulating external liabilities, developing countries' vulnerability primarily lie in their
increasing financial integration, which has resulted in the growth of their cross-border assets
and liabilities. Rather than government falling into net indebtedness, which actually fell in
many countries in recent years, developing countries are now more likely to be hit by …
financial vulnerability. It is argued that, although current account positions do have a role in
accumulating external liabilities, developing countries' vulnerability primarily lie in their
increasing financial integration, which has resulted in the growth of their cross-border assets
and liabilities. Rather than government falling into net indebtedness, which actually fell in
many countries in recent years, developing countries are now more likely to be hit by …
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