U.S. Commercial Banks and the Developing Country Debt Crisis
AbstractThe major theme of this paper is that the commercial banks have weathered the debt crisis, while many debtor countries remain in economic paralysis or worse. There is a growing consensus that much of the LDC debt will not be fully serviced in the future, and that consensus is reflected in at least two ways: in the discounts observed in the secondary market prices for LDC debt, and in the discounts in the stock market pricing of banks with exposure in the LDCs.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2455.
Date of creation: Dec 1987
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Publication status: published as Sachs, Jeffrey and Harry Huizinga. "U.S. Commercial Banks and the Developing-Country Debt Crisis." Brookings Papers on Economic Activity, 1987:2, pp. 555-606.
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Other versions of this item:
- Jeffrey Sachs & Harry Huizinga, 1987. "U.S. Commercial Banks and the Developing-Country Debt Crisis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 555-606.
- Sachs, J. & Huizinga, H.P., 1987. "U.S. commercial banks and the developing-country debt crisis," Open Access publications from Tilburg University urn:nbn:nl:ui:12-155106, Tilburg University.
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