This paper analyzes the nature of the external indebtedness in which developing countries have been incurring. The thesis is proposed that the mechanism for recycling financial surpluses will not be the reproduction of the one that took place in the period 1973-1982 and some of the elements that should be taken into account in its eventual reorganization are examined. We argue that there are three effects of the crisis that are indispensable for examining the financial recycling process: Trade protectionism has become widespread and the volume of world trade has stagnated; the threatening combination of inflation-unemployment-economic stagnation has not been able to be effectively fought through the use of traditional instruments of economic policy and; The significant group interests tenaciously pursued by industrialized countries and oil exporters have not been achieved through the adoption of unilateral strategies.
Lafourcade, H. (1983). Hacia la reorganización del mecanismo de reciclaje financiero internacional. Estudios Internacionales, 16(63), p. 379–390. https://doi.org/10.5354/0719-3769.1983.16105
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