IDEAS home Printed from https://ideas.repec.org/p/wbk/wbrwps/252.html
   My bibliography  Save this paper

Do the secondary markets believe in life after debt?

Author

Listed:
  • Hajivassiliou,Vassilis A.

Abstract

Using panel data econometric techniques to examine the case for external debt relief, this report explores the relations between measures of creditworthiness and debt discounts on the secondary markets. It finds, however, that secondary market values tend to reflect past difficulties, not anticipate future ones - so they can't be used to build a case for debt relief. The secondary markets, still in an early evolutionary stage, are quite"thin"and thus unable to exploit efficiently and quickly all available information on creditworthiness.

Suggested Citation

  • Hajivassiliou,Vassilis A., 1989. "Do the secondary markets believe in life after debt?," Policy Research Working Paper Series 252, The World Bank.
  • Handle: RePEc:wbk:wbrwps:252
    as

    Download full text from publisher

    File URL: http://documents.worldbank.org/curated/en/685441468740677480/pdf/multi0page.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    More about this item

    Keywords

    Strategic Debt Management; Financial Intermediation; Environmental Economics&Policies; Economic Theory&Research; Banks&Banking Reform;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:252. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.