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If the spending priorities of the debtor country and donor are the same, these swaps can help debtor countries. But sometimes they do not make fiscal sense. And the future of these swaps may be limited by the Brady Plan's current emphasis on debt reduction.
Crucial assumptions underlying this subset of theories from the "new international economics" turn out to be unrealistic.
How professionalization and scholarly “rigor” made social scientists increasingly irrelevant to US national security policy To mobilize America’s intellectual resources to meet the security challenges of the post–9/11 world, US Secretary of Defense Robert M. Gates observed that “we must again embrace eggheads and ideas.” But the gap between national security policymakers and international relations scholars has become a chasm. In Cult of the Irrelevant, Michael Desch traces the history of the relationship between the Beltway and the Ivory Tower from World War I to the present day. Recounting key Golden Age academic strategists such as Thomas Schelling and Walt Rostow, Desch’s n...