A dívida externa: mercado ou conflito

Vol. 8 No. 4 (1988)

Oct-Dec / 1988
Published October 1, 1988
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How to Cite

Bendesky, León. 1998. “A dívida Externa: Mercado Ou Conflito”. Brazilian Journal of Political Economy 8 (4). https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1112.

A dívida externa: mercado ou conflito

León Bendesky
Brazilian Journal of Political Economy, Vol. 8 No. 4 (1988), Oct-Dec / 1988, Pages

Abstract


This essay suggests that the external debt of the Latin-American countries should be considered as a form of conflict. This means that the confrontation of relative powers has to be acknowledged. As a conflict, it turns into a process in which the relations of creditors and debtors develop through the establishment of different strategies. Conventional treatment of external indebtedness takes it as a problem and searches for its solution. As such, its nature tends ultimately to be considered as a market phenomenon. Technical and administrative measure are then proposed to cope with the “debt crisis”. But in fact, negotiation becomes the main characteristic of the conflict. A situation of financial deterrence is then created to prevent rupture in international financial flows. The unequal power of the participants fixes the limits of the confron-tation as well as the incentives for cooperation.