메뉴 건너뛰기




Volumn 28, Issue 3, 2004, Pages 235-256

Lending to developing countries revisited: Changing nature of lenders and payment problems

Author keywords

International lending; Multilateral organizations; Payment problems; The debt crisis

Indexed keywords


EID: 8844263800     PISSN: 09393625     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecosys.2004.08.001     Document Type: Article
Times cited : (10)

References (46)
  • 1
    • 0000068431 scopus 로고
    • International lending with moral hazard and risk of repudiation
    • A. Atkeson International lending with moral hazard and risk of repudiation Econometrica 59 1991 1069-1089
    • (1991) Econometrica , vol.59 , pp. 1069-1089
    • Atkeson, A.1
  • 2
    • 0024225987 scopus 로고
    • The debt crisis: Structural explanations of country performance
    • A. Berg J. Sachs The debt crisis Structural explanations of country performance J. Dev. Econ. 29 1988 271-306
    • (1988) J. Dev. Econ. , vol.29 , pp. 271-306
    • Berg, A.1    Sachs, J.2
  • 3
    • 0031462010 scopus 로고    scopus 로고
    • The catalytic effect of lending by the international financial institutions
    • G. Bird D. Rowlands The catalytic effect of lending by the international financial institutions World Econ. 20 1997 967-991
    • (1997) World Econ. , vol.20 , pp. 967-991
    • Bird, G.1    Rowlands, D.2
  • 4
    • 0033665454 scopus 로고    scopus 로고
    • The catalysing role of policy-based lending by the IMF and the World Bank: Fact or fiction
    • G. Bird D. Rowlands The catalysing role of policy-based lending by the IMF and the World Bank: Fact or fiction J. Int. Dev. 12 2000 951-973
    • (2000) J. Int. Dev. , vol.12 , pp. 951-973
    • Bird, G.1    Rowlands, D.2
  • 5
    • 0000362496 scopus 로고
    • Time preference and international lending and borrowing in an overlapping-generations model
    • W.H. Buiter Time preference and international lending and borrowing in an overlapping-generations model J. Political Econ. 89 1981 769-797
    • (1981) J. Political Econ. , vol.89 , pp. 769-797
    • Buiter, W.H.1
  • 6
    • 70350134153 scopus 로고
    • A constant recontracting model of sovereign debt
    • National Bureau of Economic Research Working Paper 2088
    • Bulow, J.I., Rogoff, K., 1986. A constant recontracting model of sovereign debt. National Bureau of Economic Research Working Paper 2088.
    • (1986)
    • Bulow, J.I.1    Rogoff, K.2
  • 7
    • 0002522316 scopus 로고
    • Sovereign debt: Is to forgive to forget
    • J.I. Bulow K. Rogoff Sovereign debt: Is to forgive to forget Am. Econ. Rev. 79 1989 43-50
    • (1989) Am. Econ. Rev. , vol.79 , pp. 43-50
    • Bulow, J.I.1    Rogoff, K.2
  • 8
    • 13244253594 scopus 로고    scopus 로고
    • Bedfellows, hostages, or perfect strangers? Global capital markets and the catalytic effect of IMF crisis lending
    • IMF Working Paper 193
    • Cottarelli, C., Giannini, C., 2002. Bedfellows, hostages, or perfect strangers? Global capital markets and the catalytic effect of IMF crisis lending. IMF Working Paper 193.
    • (2002)
    • Cottarelli, C.1    Giannini, C.2
  • 9
    • 0346126465 scopus 로고
    • Describing external debt situations: A rollover approach
    • P. Dhonte Describing external debt situations: A rollover approach Int. Monetary Fund Staff Papers 22 1975 159-186
    • (1975) Int. Monetary Fund Staff Papers , vol.22 , pp. 159-186
    • Dhonte, P.1
  • 10
    • 0011703221 scopus 로고    scopus 로고
    • Conditionality as an instrument of borrowed credibility
    • IMF Paper on Policy Analysis and Assessment 97/2
    • Dhonte, P., 1997. Conditionality as an instrument of borrowed credibility. IMF Paper on Policy Analysis and Assessment 97/2.
    • (1997)
    • Dhonte, P.1
  • 11
    • 84917319886 scopus 로고
    • Reputation acquisition in debt markets
    • D.W. Diamond Reputation acquisition in debt markets J. Political Econ. 97 1989 828-862
    • (1989) J. Political Econ. , vol.97 , pp. 828-862
    • Diamond, D.W.1
  • 12
    • 0022166365 scopus 로고
    • Goodbye financial repression, hello financial crash
    • C.F. Diaz-Alejandro Goodbye financial repression, hello financial crash J. Dev. Econ. 19 1985 1-24
    • (1985) J. Dev. Econ. , vol.19 , pp. 1-24
    • Diaz-Alejandro, C.F.1
  • 13
    • 0004196750 scopus 로고
    • The "burden of the debt" and the national income
    • E.D. Domar The "burden of the debt" and the national income Am. Econ. Rev. 34 1944 798-827
    • (1944) Am. Econ. Rev. , vol.34 , pp. 798-827
    • Domar, E.D.1
  • 14
    • 0004196750 scopus 로고
    • The effect of foreign investment on the balance of payments
    • E.D. Domar The effect of foreign investment on the balance of payments Am. Econ. Rev. 40 1950 805-826
    • (1950) Am. Econ. Rev. , vol.40 , pp. 805-826
    • Domar, E.D.1
  • 15
    • 0013452881 scopus 로고
    • Debt problems and the world economy
    • J.D. Sachs (Ed.) University of Chicago Press Chicago
    • R. Dornbush Debt problems and the world economy In: J.D. Sachs (Ed.) Developing Country Debt and Economic Performance 1989 University of Chicago Press Chicago 331-358
    • (1989) Developing Country Debt and Economic Performance , pp. 331-358
    • Dornbush, R.1
  • 16
    • 2942716951 scopus 로고    scopus 로고
    • The causes and consequences of IMF conditionality
    • A. Dreher R. Vaubel The causes and consequences of IMF conditionality Emerg. Markets Finance Trade 40 2004 26-54
    • (2004) Emerg. Markets Finance Trade , vol.40 , pp. 26-54
    • Dreher, A.1    Vaubel, R.2
  • 17
    • 0036333526 scopus 로고    scopus 로고
    • The cartel of good intentions
    • W. Easterly The cartel of good intentions Foreign Policy 131 2002 20-29
    • (2002) Foreign Policy , vol.131 , pp. 20-29
    • Easterly, W.1
  • 18
    • 0002887265 scopus 로고
    • Debt relief and the international enforcement of loan contracts
    • J. Eaton Debt relief and the international enforcement of loan contracts J. Econ. Perspect. 4 1990 43-56
    • (1990) J. Econ. Perspect. , vol.4 , pp. 43-56
    • Eaton, J.1
  • 19
    • 84959777265 scopus 로고
    • Debt with potential repudiation: Theoretical and empirical analysis
    • J. Eaton M. Gersovitz Debt with potential repudiation: Theoretical and empirical analysis Rev. Econ. Stud. 48 1981 289-309
    • (1981) Rev. Econ. Stud. , vol.48 , pp. 289-309
    • Eaton, J.1    Gersovitz, M.2
  • 20
    • 0000759313 scopus 로고
    • LDC foreign borrowing and default risk: An empirical investigation 1976-1980
    • S. Edwards LDC foreign borrowing and default risk: An empirical investigation 1976-1980 Am. Econ. Rev. 74 1984 726-734
    • (1984) Am. Econ. Rev. , vol.74 , pp. 726-734
    • Edwards, S.1
  • 21
    • 0036334702 scopus 로고    scopus 로고
    • Effectiveness of IMF-supported stabilization programs in developing countries
    • A.Y. Evrensel Effectiveness of IMF-supported stabilization programs in developing countries J. Int. Money Finance 21 2002 565-587
    • (2002) J. Int. Money Finance , vol.21 , pp. 565-587
    • Evrensel, A.Y.1
  • 22
    • 0002909256 scopus 로고
    • A study of debt servicing capacity applying logit analysis
    • G. Feder R.E. Just A study of debt servicing capacity applying logit analysis J. Dev. Econ. 4 1977 25-38
    • (1977) J. Dev. Econ. , vol.4 , pp. 25-38
    • Feder, G.1    Just, R.E.2
  • 23
  • 24
    • 0001573206 scopus 로고
    • Measurement of debt servicing capacity: An application of discriminant analysis
    • C.R. Frank Jr. W.R. Cline Measurement of debt servicing capacity: An application of discriminant analysis J. Int. Econ. 1 1971 327-344
    • (1971) J. Int. Econ. , vol.1 , pp. 327-344
    • Frank Jr., C.R.1    Cline, W.R.2
  • 25
    • 0742284254 scopus 로고
    • Optimal international borrowing and lending
    • J.A. Hanson Optimal international borrowing and lending Am. Econ. Rev. 64 1974 616-630
    • (1974) Am. Econ. Rev. , vol.64 , pp. 616-630
    • Hanson, J.A.1
  • 26
    • 0242652538 scopus 로고
    • A model of borrowing and lending with bankruptcy
    • M.F. Hellwig A model of borrowing and lending with bankruptcy Econometrica 45 1977 1879-1906
    • (1977) Econometrica , vol.45 , pp. 1879-1906
    • Hellwig, M.F.1
  • 27
    • 84960566039 scopus 로고
    • Imperfect information, uncertainty, and credit rationing
    • D.M. Jaffee T. Russell Imperfect information, uncertainty, and credit rationing Q. J. Econ. 90 1976 651-666
    • (1976) Q. J. Econ. , vol.90 , pp. 651-666
    • Jaffee, D.M.1    Russell, T.2
  • 28
    • 0141900376 scopus 로고
    • The long-run creditworthiness of developing countries: Theory and practice
    • H. Kharas The long-run creditworthiness of developing countries: Theory and practice Q. J. Econ. 99 1984 415-439
    • (1984) Q. J. Econ. , vol.99 , pp. 415-439
    • Kharas, H.1
  • 29
    • 0023510923 scopus 로고
    • Origins of the developing countries' debt crisis 1970 to 1982
    • A.O. Krueger Origins of the developing countries' debt crisis 1970 to 1982 J. Dev. Econ. 27 1987 165-187
    • (1987) J. Dev. Econ. , vol.27 , pp. 165-187
    • Krueger, A.O.1
  • 30
    • 0024192932 scopus 로고
    • Financing vs. forgiving a debt overhang
    • P. Krugman Financing vs. forgiving a debt overhang J. Dev. Econ. 29 1988 253-268
    • (1988) J. Dev. Econ. , vol.29 , pp. 253-268
    • Krugman, P.1
  • 32
    • 0038066676 scopus 로고    scopus 로고
    • Adoption of an IMF programme and debt rescheduling: An empirical analysis
    • S. Marchesi Adoption of an IMF programme and debt rescheduling An empirical analysis J. Dev. Econ. 70 2003 403-423
    • (2003) J. Dev. Econ. , vol.70 , pp. 403-423
    • Marchesi, S.1
  • 33
    • 8844246509 scopus 로고
    • Optimal foreign debt accumulation with export revenue uncertainty
    • J.L. McCabe D.S. Sibley Optimal foreign debt accumulation with export revenue uncertainty Int. Econ. Rev. 17 1976 675-686
    • (1976) Int. Econ. Rev. , vol.17 , pp. 675-686
    • McCabe, J.L.1    Sibley, D.S.2
  • 34
    • 0346232355 scopus 로고    scopus 로고
    • Growing up with capital flows
    • IMF Working Paper 75
    • Mody, A., Murshid, A.P., 2002. Growing up with capital flows. IMF Working Paper 75.
    • (2002)
    • Mody, A.1    Murshid, A.P.2
  • 35
    • 4344704540 scopus 로고    scopus 로고
    • International capital crunches: The time-varying role of informational asymmetries
    • IMF Working Paper 43
    • Mody, A., Taylor, M.P., 2002. International capital crunches: The time-varying role of informational asymmetries. IMF Working Paper 43.
    • (2002)
    • Mody, A.1    Taylor, M.P.2
  • 36
    • 4644252173 scopus 로고    scopus 로고
    • Catalyzing private capital flows: Do IMF programs work as commitment devices?
    • IMF Working Paper 100
    • Mody, A., Saravia, D., 2003. Catalyzing private capital flows: Do IMF programs work as commitment devices? IMF Working Paper 100.
    • (2003)
    • Mody, A.1    Saravia, D.2
  • 37
    • 0025668175 scopus 로고
    • Determinants of voluntary and involuntary lending to developing countries in the 1980s
    • P. Nunnenkamp Determinants of voluntary and involuntary lending to developing countries in the 1980s Kyklos 43 1990 555-577
    • (1990) Kyklos , vol.43 , pp. 555-577
    • Nunnenkamp, P.1
  • 38
    • 0000208022 scopus 로고
    • On the relation between reschedulings and bank value
    • Ş. Özler On the relation between reschedulings and bank value Am. Econ. Rev. 79 1989 1117-1131
    • (1989) Am. Econ. Rev. , vol.79 , pp. 1117-1131
    • Özler, Ş.1
  • 39
    • 0001399467 scopus 로고
    • Have commercial banks ignored history
    • Ş. Özler Have commercial banks ignored history Am. Econ. Rev. 83 1993 608-620
    • (1993) Am. Econ. Rev. , vol.83 , pp. 608-620
    • Özler, Ş.1
  • 40
    • 21144448383 scopus 로고
    • The Role of the Paris Club in Managing Debt Problems
    • Princeton University Princeton
    • A. Rieffel The Role of the Paris Club in Managing Debt Problems Essays in International Finance vol. 161 1985 Princeton University Princeton
    • (1985) Essays in International Finance , vol.161
    • Rieffel, A.1
  • 41
    • 0013184237 scopus 로고
    • Why is there multilateral lending?
    • NBER Working Paper 5160
    • Rodrik, D., 1995. Why is there multilateral lending? NBER Working Paper 5160.
    • (1995)
    • Rodrik, D.1
  • 42
    • 0039932935 scopus 로고
    • Economic indicators and country risk appraisal
    • Federal Reserve Bank of San Francisco
    • Sargen, N., 1977. Economic indicators and country risk appraisal. Economic Review, Federal Reserve Bank of San Francisco, 19-35.
    • (1977) Economic Review , pp. 19-35
    • Sargen, N.1
  • 43
    • 0033173978 scopus 로고    scopus 로고
    • Moral hazard, asset price bubbles, capital flows, and the East Asian crisis: The first tests
    • L. Sarno M.P. Taylor Moral hazard, asset price bubbles, capital flows, and the East Asian crisis: The first tests J. Int. Money Finance 18 1999 637-657
    • (1999) J. Int. Money Finance , vol.18 , pp. 637-657
    • Sarno, L.1    Taylor, M.P.2
  • 44
    • 0033180570 scopus 로고    scopus 로고
    • Hot money, accounting labels and the permanence of capital flows to developing countries: An empirical investigation
    • L. Sarno M.P. Taylor Hot money, accounting labels and the permanence of capital flows to developing countries: An empirical investigation J. Dev. Econ. 59 1999 337-364
    • (1999) J. Dev. Econ. , vol.59 , pp. 337-364
    • Sarno, L.1    Taylor, M.P.2
  • 45
    • 0010969965 scopus 로고
    • A perspective on the debt of developing countries
    • R. Solomon A perspective on the debt of developing countries Brookings Papers Econ. Activity 2 1977 479-501
    • (1977) Brookings Papers Econ. Activity , vol.2 , pp. 479-501
    • Solomon, R.1
  • 46
    • 0001620142 scopus 로고
    • Tolerance of arrearages: How IMF loan policy can effect debt reduction
    • R. Wells Tolerance of arrearages: How IMF loan policy can effect debt reduction Am. Econ. Rev. 83 1993 621-633
    • (1993) Am. Econ. Rev. , vol.83 , pp. 621-633
    • Wells, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.