全球智库信息集成服务系统(G2TT): Undisclosed Debt Sustainability

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w26347
来源ID	Working Paper 26347
	Undisclosed Debt Sustainability
	Laura Alfaro; Fabio Kanczuk
发表日期	2019-10-07
出版年	2019
语种	英语
摘要	Over the past decade, non–Paris Club creditors, notably China, have become an important source of financing for low- and middle-income countries. In contrast with typical sovereign debt, these lending arrangements are not public, and other creditors have no information about their magnitude. We transform the traditional sovereign debt and default model to quantitatively study incomplete information arrangements and find they greatly reduce traditional/Paris Club creditors’ debt sustainability. Disclosure of nontraditional debt would imply significant welfare gains for the recipient countries but would reduce its sustainability. We discuss the implications of nontraditional lending on standard assumptions of sovereign debt models in particular defaulting costs.
主题	International Economics ; International Finance
URL	https://www.nber.org/papers/w26347
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/584018
推荐引用方式 GB/T 7714	Laura Alfaro,Fabio Kanczuk. Undisclosed Debt Sustainability. 2019.