Optimal debt? On the insurance value of international debt flows to developing countries

According to reputation models of sovereign debt, the incentives to repay are proportional to the income insurance benefits provided by the access to international markets. This paper, however, documents that private net lending to developing countries exhibits a procyclical or acyclical pattern, co...

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Detalles Bibliográficos
Publicado: 2009
Materias:
Capital flows
Debt default
Sovereign debt
capital flow
capital market
credit provision
debt
developing world
insurance system
investment incentive
lending behavior
numerical model
Acceso en línea:https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_09237992_v20_n4_p489_Yeyati
http://hdl.handle.net/20.500.12110/paper_09237992_v20_n4_p489_Yeyati
Aporte de:
Biblioteca Digital - Facultad de Ciencias Exactas y Naturales (UBA) de Universidad de Buenos Aires

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