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Garantía Oficial Implícita y Créditos Externos

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  • Carlos Cáceres

Abstract

This paper develops a theoretical model to analyze the effect of an implicit official guaranty (IOG) perceived by the international banking on external credits to less developed countries (LDC's). The model rests on Rothschild-Stiglitz's definition of ris

Suggested Citation

  • Carlos Cáceres, 1987. "Garantía Oficial Implícita y Créditos Externos," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 24(72), pages 127-142.
  • Handle: RePEc:ioe:cuadec:v:24:y:1987:i:72:p:127-142
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    References listed on IDEAS

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    1. Eaton, Jonathan & Taylor, Lance, 1986. "Developing country finance and debt," Journal of Development Economics, Elsevier, vol. 22(1), pages 209-265, June.
    2. Sebastian Edwards, 1984. "The Order of Liberalization of the Current and Capital Accounts of the Balance of Payments," NBER Working Papers 1507, National Bureau of Economic Research, Inc.
    3. G. Hanoch & H. Levy, 1969. "The Efficiency Analysis of Choices Involving Risk," Review of Economic Studies, Oxford University Press, vol. 36(3), pages 335-346.
    4. Aizenman, Joshua, 1983. "Dynamics of trade liberalization policy," Journal of Development Economics, Elsevier, vol. 13(1-2), pages 133-142.
    5. Jonathan Eaton & Mark Gersovitz, 1981. "Debt with Potential Repudiation: Theoretical and Empirical Analysis," Review of Economic Studies, Oxford University Press, vol. 48(2), pages 289-309.
    6. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
    7. Rothschild, Michael & Stiglitz, Joseph E., 1971. "Increasing risk II: Its economic consequences," Journal of Economic Theory, Elsevier, vol. 3(1), pages 66-84, March.
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