Debt Maturity and the International Financial Architecture /
This paper presents a theory of the maturity of international sovereign debt and derives its implications for the reform of the international financial architecture. It presents a general equilibrium model in which the need to roll over external debt disciplines the policies of debtor countries but...
| मुख्य लेखक: | |
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| स्वरूप: | पत्रिका |
| भाषा: | English |
| प्रकाशित: |
Washington, D.C. :
International Monetary Fund,
2004.
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| श्रृंखला: | IMF Working Papers; Working Paper ;
No. 2004/137 |
| ऑनलाइन पहुंच: | Full text available on IMF |
| सारांश: | This paper presents a theory of the maturity of international sovereign debt and derives its implications for the reform of the international financial architecture. It presents a general equilibrium model in which the need to roll over external debt disciplines the policies of debtor countries but makes them vulnerable to unwarranted debt crises owing to bad shocks. The paper presents a welfare analysis of several measures that have been discussed in recent debates, such as the adoption of renegotiation-friendly clauses in debt contracts and the establishment of an international bankruptcy regime for sovereigns. |
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| वस्तु वर्णन: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| भौतिक वर्णन: | 1 online resource (33 pages) |
| स्वरूप: | Mode of access: Internet |
| आईएसएसएन: | 1018-5941 |
| अभिगमन: | Electronic access restricted to authorized BRAC University faculty, staff and students |