This paper assesses the empirical relevance of various conjectures about what determined whether creditors would issue loans to developing countries in the 1980s. With the onset of the debt crisis, private creditors began to honour debtors who improved economic performance and policies. Private creditors were not prepared to compensate for unfavourable developments in the world market with additional lending. Small borrowers who did not benefit from...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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1989/06/30
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Рабочий документ в рамках исследования вопросов политики
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WPS193
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1
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1
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2010/07/01
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Voluntary and involuntary lending : a test of major hypotheses
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private creditor