Donor Herding and Domestic Debt Crisis

Donor Herding and Domestic Debt Crisis
This paper presents a new model based on the loan-pushing model by Basu (1991) to show how a domestic debt crisis can occur in a low-income country following donor herding. The model focuses on the rational herding behavior of donors due to payoff and information externalities. Although there are many theoretical models on herding behavior,... READ MORE...

Publication date: April 2006
ISBN 9781451863697
$15.00

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