Sovereign Default, Private Sector Creditors and the IFIs

Sovereign Default, Private Sector Creditors and the IFIs
This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of these two types of debt. We analyze the decisions of a sovereign on how to allocate its borrowing... READ MORE...

Publication date: March 2009
ISBN 9781451871944
$18.00

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