Sovereign Debt: Is To Forgive To Forget?
This paper shows that, under fairly general conditions, lending to small countries must be supported by the direct sanctions available to creditors and cannot be supported by a country's "reputation for repayment." This distinction is critically important for understanding the true underlying nature of sovereign lending contracts and for comparing policy alternatives for dealing with the developing country debt problem. Copyright 1989 by American Economic Association.
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|Date of creation:||1988|
|Contact details of provider:|| Postal: UNIVERSITY OF STOCKHOLM, INSTITUTE FOR INTERNATIONAL ECONOMIC STUDIES, S- 106 91 STOCKHOLM SWEDEN.|
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