Dette extérieure et croissance économique : une revue de la littérature

Over the past four decades, developing countries have not been immune to international financial changes. Today, the destabilizing effects of financial liberalization are affecting even developed economies. This paper reviews the theoretical foundations and the different relationships between external debt and economic growth. Our review of the literature is supported by an statistical data analysis from the 1960s. For the last two decades, the data show that the stock of debt of developing countries has increased sharply compared to the third quarter of the 20th century. They are five times more in debt. The creditors have launched different initiatives to boost economic growth not only in these countries, but also internationaly. The results are limited. These countries remain financially dependent and vulnerable to the economic crisis