克鲁格曼国际经济学课件第22章.pptVIP

Chapter 22 Developing Countries: Growth, Crisis, and Reform ;Introduction Income, Wealth, and Growth in the World Economy Structural Features of Developing Countries Developing Country Borrowing and Debt Latin America: From Crisis to Uneven Reform East Asia: Success and Crisis Lessons of Developing Country Crises Reforming the World’s Financial “Architecture” Summary;Introduction;The Gap Between Rich and Poor The worlds economies can be divided into four main categories according to their annual per-capita income levels: Low-income economies Lower middle-income economies Upper middle-income economies High-income economies;Income, Wealth, and Growth in the World Economy;Has the World Income Gap Narrowed Over Time? Industrial countries have shown convergence in their per capita incomes. Developing countries have not shown a uniform tendency of convergence to the income levels of industrial countries. Countries in Africa and Latin America have grown at very low rates. East Asian countries have tended to grow at very high rates. ;Income, Wealth, and Growth in the World Economy;Structural Features of Developing Countries;Figure 22-1: Corruption and Per Capita Income;Developing Country Borrowing and Debt;Table 22-3: Current Account Balances of Major Oil Exporters, Other Developing Countries, and Industrial Countries, 1973-2000 (billions of dollars);Table 22-3: Continued;The Problem of Default Borrowing by developing countries has sometimes led to default crises. The borrower fails to repay on schedule according to the loan contract, without the agreement to the lender.;History of capital flows to developing countries: Early 19th century A number of American states defaulted on European loans they had taken out to finance the building of canals. Throughout the 19th century Latin American countries ran into repayment problems (e.g., the Baring Crisis). 1917 The new communist government of Russia repudiated the foreign debts incurred by previous ru