Getting Shut Out of the International Capital Markets - It Doesn’t Take Much

Nancy Marion and Robert Flood

No 2006/144, IMF Working Papers from International Monetary Fund

Abstract: We use a simple model of international lending to show that an emerging market borrower who might default can be shut out of international capital markets without warning. A modest haircut on obligations, for example, can shut down lending.

Keywords: WP; math; mover accent (search for similar items in EconPapers)
Pages: 14
Date: 2006-06-01
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Citations: View citations in EconPapers (4)

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