MASHAALAH RAHNAMA-MOGHADAM is Assistant Professor of Finance in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Rahnama has taught at several universities and has published several articles on international debt and world debt crisis in leading business and economics journals.HEDAYEH SAMAVATI is Associate Professor of Economics in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Samavati has experience teaching economics and statistics at the undergraduate and graduate levels. She has several publications in the areas of macroeconomics and international business in leading economic and business journals.DAVID A. DILTS is Professor of Economics and Labor Relations in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. He has authored or coauthored six books and 80 articles concerning economics and labor relations issues.

• Preface Economic Globalization, Developing Economies, and Business An Introduction to Less Developed Countries and Their Debt The Characteristics of Less Developed Countries: Further Refinements on Definitions History of the Relations between Industrialized and Less Developed Countries Comparative and Absolute Advantage: Implications for Trade with LDCs International Financial Foundations of the World Debt Crisis Why LDCs Acquired Debt How the LDCs Used the Loans Determinants of Debt Rescheduling for LDCs Regional Determinants of Debt Rescheduling Introduction to Business in Indebted Less Developed Countries Strategic Planning and Business Activity in Indebted LDCs Indebted LDCs: To Do or Not To Do Business The Imperative of Globalization Appendix A: The Debt Rescheduling Determinants of Less Developed Countries Appendix B: Health, Education, Electricity, Telephone, and Transportation (H.E.E.T.T.) Selected Annotated Bibliography Index

MASHAALAH RAHNAMA-MOGHADAM is Assistant Professor of Finance in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Rahnama has taught at several universities and has published several articles on international debt and world debt crisis in leading business and economics journals.HEDAYEH SAMAVATI is Associate Professor of Economics in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Samavati has experience teaching economics and statistics at the undergraduate and graduate levels. She has several publications in the areas of macroeconomics and international business in leading economic and business journals.DAVID A. DILTS is Professor of Economics and Labor Relations in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. He has authored or coauthored six books and 80 articles concerning economics and labor relations issues.

• Preface Economic Globalization, Developing Economies, and Business An Introduction to Less Developed Countries and Their Debt The Characteristics of Less Developed Countries: Further Refinements on Definitions History of the Relations between Industrialized and Less Developed Countries Comparative and Absolute Advantage: Implications for Trade with LDCs International Financial Foundations of the World Debt Crisis Why LDCs Acquired Debt How the LDCs Used the Loans Determinants of Debt Rescheduling for LDCs Regional Determinants of Debt Rescheduling Introduction to Business in Indebted Less Developed Countries Strategic Planning and Business Activity in Indebted LDCs Indebted LDCs: To Do or Not To Do Business The Imperative of Globalization Appendix A: The Debt Rescheduling Determinants of Less Developed Countries Appendix B: Health, Education, Electricity, Telephone, and Transportation (H.E.E.T.T.) Selected Annotated Bibliography Index

MASHAALAH RAHNAMA-MOGHADAM is Assistant Professor of Finance in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Rahnama has taught at several universities and has published several articles on international debt and world debt crisis in leading business and economics journals.HEDAYEH SAMAVATI is Associate Professor of Economics in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. Samavati has experience teaching economics and statistics at the undergraduate and graduate levels. She has several publications in the areas of macroeconomics and international business in leading economic and business journals.DAVID A. DILTS is Professor of Economics and Labor Relations in the Department of Economics and Finance at Indiana-Purdue University in Fort Wayne. He has authored or coauthored six books and 80 articles concerning economics and labor relations issues.

• Preface Economic Globalization, Developing Economies, and Business An Introduction to Less Developed Countries and Their Debt The Characteristics of Less Developed Countries: Further Refinements on Definitions History of the Relations between Industrialized and Less Developed Countries Comparative and Absolute Advantage: Implications for Trade with LDCs International Financial Foundations of the World Debt Crisis Why LDCs Acquired Debt How the LDCs Used the Loans Determinants of Debt Rescheduling for LDCs Regional Determinants of Debt Rescheduling Introduction to Business in Indebted Less Developed Countries Strategic Planning and Business Activity in Indebted LDCs Indebted LDCs: To Do or Not To Do Business The Imperative of Globalization Appendix A: The Debt Rescheduling Determinants of Less Developed Countries Appendix B: Health, Education, Electricity, Telephone, and Transportation (H.E.E.T.T.) Selected Annotated Bibliography Index