Small manufacturing enterprises in developing countries. A valuation model for developing-country debt with endogenous rescheduling. The political economy of economic liberalization. Sites and services...
Creditors have little recourse if a sovereign state repudiates debt obligations. They can, however, threaten to impose penalties if such action occurs which results in deadweight losses to the system as...
Reschedulings are a device that creditors can use to structure the incentives faced by borrowers such that repudiation is never a rational option. This paper develops a numerical method for valueing the...