List of figures; List of tables; Preface; List of conference participants; 1. Introduction David Currie, Anton Muscatelli and David Vines; 2. An econometric investigation of North–South interdependence Michael Beenstock; Discussion Michael P. Dooley; 3. North–South interactions: a general-equilibrium framework for the study of strategic issues David Currie, David Vines, Thomas Moutos, Anton Muscatelli and Nic Vidalis; Discussion Paul Armington; 4. Commodities, debt and North–South cooperation: a cautionary tale from the structuralist camp Andrew Hughes Hallett; Discussion Ralph C. Bryant; 5. The use of commodity contracts for the management of developing country commodity risks Andrew Powell and Christopher Gilbert; Discussion Jorge Braga De Macedo; 6. An empirical study of disequilibrium in North–South trade S. Hossein Samiei; Discussion Youngil Lim; 7. Global savings, investment and adjustment: on micro- and macroeconomic foundations of North–South financial interdependence Rob Vos; Discussion Alasdair I. MacBean; 8. Brazil's growth prospects: domestic savings, external finance and OECD performance interactions Winston Fritsch; Discussion Adrian Wood; Index.