External debt depresses investment and lowers economic growth below its potential through its negative effect on liquidity and expected profitability. These effects can pull a country into a downward spiral in which both the debtor country and creditors lose. This article considers the possibilities for revising contracts between a debtor and its creditors once a debt crisis has erupted. The authors develop a framework that shows how various combinations...
انظر المزيد
تفاصيل
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1990/1/31
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مقال بمجلة علمية
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14249
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1
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1
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2010/7/01
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Investment incentives : new money, debt relief, and the critical role of conditionality in the debt crisis
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ratio of debt service to export