International debt threat

In this volume ... [the author] explain[s] how banks, daebtors, creditor governments, and international organizations managed to cooperate in heading off the crisis and examine[s] the resulting costs and benefits from this effort. In particular ... [he] looks at how the banks managed to develop a unified bargaining front, why the debtors failed to do so, and how governments and the IMF fostered a temporary resolution of the crisis. In doing so ... [the author] review[s] the constraints faced by various actors and analyze[s] the bargaining strategies they used to overcome the obstacles in their way--both to achieve cooperation and to shift the distribution of costs and benefits in their favor.-Introduction.