Chapter 5 Prosperity and Violence

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University of Toronto Scarborough
Political Science
Ingrid L.Stefanovic

NOV 17-Prosperity and Violence Chapter 5- BATES In the early 1980s shocks to the international economy precipitated a crisis of debt; less than a decade later the collapse of the soviet union These changes had a profound impact upon the economic policies of developing nations, the nature of their politics and the structure of institutions Governments were compelled more tightly to limit their spending and adopt more market-oriented economic policies Industrial countries placed a lower priority on checking the spread of violence in the developing world The economic policies of the developing nations thus rendered them structurally dependent upon foreign capital After the oil crisis, the developing countries were punished twice as much as the wealthier nations The money that the oil producing countries put them in developed countries banks Developing countries sought loan from these banks Much of the countries like Mexico declared that they could not repay debts The collapse of the Soviet Union compounded the forces unleashed by the debt crisis, leading to changes in economic policy and to the restricting of politics in the developing world. IMF worked with private banks and institutions to restructure the obligations of the developing nations to adopt policies that would lower the demand for imports, and thus eas
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