| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10095 |
| 来源ID | Working Paper 10095 |
| Crisis Resolution: Next Steps | |
| Barry Eichengreen; Kenneth Kletzer | |
| 发表日期 | 2003-11-17 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | At the April 2003 meeting of the International Monetary and Financial Committees, it was decided to further encourage the contractual approach to smoothing the process of sovereign debt restructuring by encouraging the more widespread use of collective action clauses (CACs) in international bonds. This decision was shaped partly by Mexico's successful launch of a bond subject to New York law but featuring CACs, and by subsequent issues with similar provisions from other emerging market countries. This paper reviews the developments leading up to that event, its implications, and prospects for the future. It asks whether we can expects to see additional issuance by emerging markets of bonds featuring CACs, whether such a trend would in fact help to make the world a safer financial place, and what additional steps might be taken to further enhance modalities for crisis resolution. |
| 主题 | International Economics ; International Finance |
| URL | https://www.nber.org/papers/w10095 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567723 |
| 推荐引用方式 GB/T 7714 | Barry Eichengreen,Kenneth Kletzer. Crisis Resolution: Next Steps. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10095.pdf（519KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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