Beyond the Debt Crisis Alternative Forms of Financing Growth
Beyond the Debt Crisis Alternative Forms of Financing Growth
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In our eReader you can find the full English version of the book. Read Beyond the Debt Crisis Alternative Forms of Financing Growth Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Beyond the Debt Crisis Alternative Forms of Financing Growth
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Losses can be passed on to the lender only by default or the credible threat of default -- a strategy that typically involves deadweight costs.
An oil producing country, for example, might consider financing its needs either with general obligation borrowing or with a share of its oil income. With general obligation borrowing, it would be committing itself to repay an amount of foreign exchange that is independent of the condition of the domestic economy. ! l Thus, the same debt service will be... due when foreign exchange is scarce as when it is lOThe difference between the two is that price-level linked financing locks in a real interest rate, while inflation-adjusted nominal financing does not.
11 Floating rate borrowing, in fact, is likely to be more perverse since debt service will be greatest when nominal rates are highest which is likely to coincide with periods of economic distress for LDCs.
10 not. If servicing obligations take the form of a share of net foreign exchange earnings, in contrast, repayments will be smallest when foreign exchange is scarcest, and vice-versa.
What to read after Beyond the Debt Crisis Alternative Forms of Financing Growth?
You can find similar books in the "Read Also" column, or choose other free books by Donald R Lessard to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Losses can be passed on to the lender only by default or the credible threat of default -- a strategy that typically involves deadweight costs.
An oil producing country, for example, might consider financing its needs either with general obligation borrowing or with a share of its oil income. With general obligation borrowing, it would be committing itself to repay an amount of foreign exchange that is independent of the condition of the domestic economy. ! l Thus, the same debt service will be... due when foreign exchange is scarce as when it is lOThe difference between the two is that price-level linked financing locks in a real interest rate, while inflation-adjusted nominal financing does not.
11 Floating rate borrowing, in fact, is likely to be more perverse since debt service will be greatest when nominal rates are highest which is likely to coincide with periods of economic distress for LDCs.
10 not. If servicing obligations take the form of a share of net foreign exchange earnings, in contrast, repayments will be smallest when foreign exchange is scarcest, and vice-versa.
What to read after Beyond the Debt Crisis Alternative Forms of Financing Growth?
You can find similar books in the "Read Also" column, or choose other free books by Donald R Lessard to read onlineMoreLess
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