The International Debt Crisis in Historical Perspective
294 pp., 6 x 9 in,
- Published: October 8, 1992
- Published: December 22, 1989
Eichengreen and Lindert have assembled a fine group of scholars who think clearly and write lucidly. Their book conveys a lesson and a warning. Lenders and borrowers behave predictably in ways that produce periodic debt crises remarkably similar in origin and outcome. New names have been given to old ways of muddling through but not much else was new in the 1980s. Readers of this history are not likely to repeat it. But that will happen later after it has been forgotten.
Peter B. Kenen, Princeton University