Country risk analysis: The demand and supply of sovereign loans

Country risk analysis: The demand and supply of sovereign loans

Tis paper develops a general model of the demand and supply of loans made to the public sector of a third-world country. Its objective is to identify the critical variables of demand and supply and to discuss the current international financial situation within this framework. On the supply side, th...

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Veröffentlicht in:Journal of international money and finance 1985-09, Vol.4 (3), p.389-413
1. Verfasser: Heffernan, Shelagh A.
Format: Artikel
Sprache:eng
Schlagworte:
Analysis
Default
Economic models
International finance
Loans
Market equilibrium
Mathematical models
Political risk
Sovereign
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container_title Journal of international money and finance
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description Tis paper develops a general model of the demand and supply of loans made to the public sector of a third-world country. Its objective is to identify the critical variables of demand and supply and to discuss the current international financial situation within this framework. On the supply side, these loans are treated as part of an optimal portfolio decision while the demand for external loans by a lesser developed country is based on a life-cycle hypothesis of development. After conditions for market equilibrium are established, credit rationing, instability, and default probabilities are discussed.
doi_str_mv 10.1016/0261-5606(85)90017-8
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identifier ISSN: 0261-5606
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1873-0639
language eng
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source RePEc; Periodicals Index Online; Access via ScienceDirect (Elsevier)
subjects Analysis
Default
Economic models
International finance
Loans
Market equilibrium
Mathematical models
Political risk
Sovereign
title Country risk analysis: The demand and supply of sovereign loans
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