Abstract
This paper investigates the impact of macroeconomic developments
in the industrialized nations on LDCs, in part to assess such trade-offs
as that between increased LDC exports and higher interest rates resulting
from U.S. growth. Such assessments will help in understanding the
sharply divergent economic performance of LDCs and in judging
whether the current debt crisis can be expected to disappear through the mere passage of time or only through major and painful adjustments on
the part of LDCs, for which some may be better equipped or positioned
than others.
