Using panel data econometric techniques to examine the case for external debt relief, this report explores the relations between measures of creditworthiness and debt discounts on the secondary markets. It finds, however, that secondary market values tend to reflect past difficulties, not anticipate future ones - so they can't be used to build a case for debt relief. The secondary markets, still in an early evolutionary stage, are quite "thin" and...
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INFORMATION
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1989/08/31
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Document de travail de recherche sur les politiques
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WPS252
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1
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1
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2010/07/01
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Disclosed
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Do the secondary markets believe in life after debt?
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secondary market
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