Getting Shut Out of the International Capital Markets: It Doesn't Take Much
We use a simple model of international lending to show that an emerging market borrower who might default can be shut out of international capital markets without warning. A modest haircut on obligations, for example, can shut down lending. Copyright © 2009 The Authors. Journal compilation © 2009 Blackwell Publishing Ltd.
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Volume (Year): 17 (2009)
Issue (Month): 5 (November)
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