| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP295 |
| DP295 Securitization and Commodity Contingency in International Lending | |
| Christopher L. Gilbert; Ronald Anderson | |
| 发表日期 | 1989-04-01 |
| 出版年 | 1989 |
| 语种 | 英语 |
| 摘要 | Securitization of LDC debt would significantly aid the international debt problem by increasing liquidity and expanding the range of investors. Securitization is problematic, however, in large part due to sovereign risks involved. At present sovereign risks, commodity price risks and currency risks remain unbundled in general obligation loan contracts. Using a game theoretic model we illustrate the need to separate sovereign risks from other risks and associate the sovereign default with a third party guarantee, whose fair-value premium can be calculated. We argue that issuing commodity price contingent assets may provide the best means of securitizing LDC obligations. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Debt Developing countries Securitization Sovereign risk |
| URL | https://cepr.org/publications/dp295 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529456 |
| 推荐引用方式 GB/T 7714 | Christopher L. Gilbert,Ronald Anderson. DP295 Securitization and Commodity Contingency in International Lending. 1989. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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