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Will the Sovereign Debt Market Survive? / Andrei Shleifer.
- Format:
- Book
- Author/Creator:
- Shleifer, Andrei.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w9493.
- NBER working paper series no. w9493
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2003.
- Summary:
- Economic theory and evidence from a variety of debt markets shed light on current reform proposals concerning emerging market debt. Debt markets, including the U.S. municipal bond market, generally function best when the rights of creditors are protected most effectively. Since current IMF reform proposals significantly emasculate creditor rights, they are likely to have an adverse effect on the flow of new funds to sovereign borrowers.
- Notes:
- Print version record
- February 2003.
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