| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP460 |
| DP460 A Valuation Formula for LDC Debt | |
| Daniel Cohen | |
| 发表日期 | 1990-09-01 |
| 出版年 | 1990 |
| 语种 | 英语 |
| 摘要 | This paper gives a valuation formula for LDC debt that is used to assess: i) the price at which a buy-back of the debt is advantageous to the country (we shall see that it is likely to be half the observed market price); ii) the value to the creditors of having the flows of payment guaranteed against the extrinsic stochastic disturbance faced by the country (we shall see that it may not exceed 25%); iii) the trade-off between growth of payments and levels of payments (we show that a 1% additional growth rate is worth a 15% increase of the flows). We offer finally an assessment of the Mexican agreement reached in early 1990. |
| 主题 | International Macroeconomics |
| 关键词 | Balance of payments Ldc debt |
| URL | https://cepr.org/publications/dp460 |
| 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/529616 |
| 推荐引用方式 GB/T 7714 | Daniel Cohen. DP460 A Valuation Formula for LDC Debt. 1990. |
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