What's in a Default? Lending to LDCs in the Face of Default Risk

Stephen Easton and Duane Rockerbie

Discussion Papers from Department of Economics, Simon Fraser University

Abstract: This paper develops an expected profit maximizing framework for characterizing the default risk associated with international lending during the early and mid-1980's. We identify the risk of default as associated with arrears in payments rather than rescheduling of principal or interest.

Keywords: RISK; LOANS (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1996
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Journal Article: What's in a default? Lending to LDCs in the face of default risk (1999)
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