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U.S. Commercial Banks and the Developing Country Debt Crisis

Listed author(s):
  • Jeffrey Sachs
  • Harry Huizinga

The 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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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 2455.

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Date of creation: Dec 1987
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.
Handle: RePEc:nbr:nberwo:2455
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