U.S. Commercial Banks and the Developing Country Debt Crisis

Jeffrey Sachs and Harry Huizinga

No 2455, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The major theme of this paper is that the commercial banks have weathered the debt crisis, while many debtor countries remain in economic paralysis or worse. There is a growing consensus that much of the LDC debt will not be fully serviced in the future, and that consensus is reflected in at least two ways: in the discounts observed in the secondary market prices for LDC debt, and in the discounts in the stock market pricing of banks with exposure in the LDCs.

Date: 1987-12
Note: ITI IFM
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Published as Sachs, Jeffrey and Harry Huizinga. "U.S. Commercial Banks and the Developing-Country Debt Crisis." Brookings Papers on Economic Activity, 1987:2, pp. 555-606.

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Related works:
Journal Article: U.S. Commercial Banks and the Developing-Country Debt Crisis (1987)
Working Paper: U.S. commercial banks and the developing-country debt crisis (1987)
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