Sovereign Debt Relief Schemes and Welfare

Sovereign Debt Relief Schemes and Welfare
This paper shows that concerted debt reduction may be welfare-improving even when the investment disincentive effect of a debt overhang is not large enough to place the debtor country on the wrong side of the debt Laffer curve. Whether the appropriate relief scheme involves debt reduction or new money, however, depends on whether investment... READ MORE...

Publication date: March 1992
ISBN 9781451920758
$15.00

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