01657cas a2200241 a 4500 AALejournalIMF003115 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451855944 1018-5941 BD-DhAAL BD-DhAAL Jeanne, Olivier. Debt Maturity and the International Financial Architecture / Olivier Jeanne. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (33 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/137 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/137/001.2004.issue-137-en.xml IMF e-Library