The menu approach to developing country external debt : an analysis of commercial banks' choice behavior (anglais)

This study provides evidence that bank characteristics are significant determinants of commercial-bank choice behavior when confronted with a menu of options. It develops a theoretical model of bank choice behavior and empirically tests its implications using data from the 1988 Brazilian financing package. The empirical results show that bank characteristics are capable of explaining over 80 percent of this choice. One of the main implications of...
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BOLETÍN DEL BANCO MUNDIAL

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