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Preferred term

debt crisis  

Definition

  • The debt crisis is related to the emergence of an integrated global financial market and shifting capital flows to and from the “developing” world from the late 1960s to the 1980s. The shakeup of these capital markets during the early 1980s revealed the vulnerability of the global banking system. [Source: Encyclopedia of Human Geography; Debt and Debt Crisis]

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https://concepts.sagepub.com/social-science/concept/debt_crisis

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