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A Brazilian Debt-Crisis / Assaf Razin, Efraim Sadka.
- Format:
- Book
- Author/Creator:
- Razin, Assaf.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w9160.
- NBER working paper series no. w9160
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2002.
- Summary:
- We develop a stylised model of multiple equilibria, with country risk spreads at the focus of the analysis. Fears that the country default on its debt triggers a reversal in the direction of inflows of international financial capital raise interest-rate spreads and thus the cost of servicing the public debt. The analytical framework is standard: creditors observe the output of borrowing only at a cost.
- Notes:
- Print version record
- September 2002.
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