A VALUATION FORMULA FOR LDC DEBT
成果类型：
Article
署名作者：
COHEN, D
刊物名称：
JOURNAL OF INTERNATIONAL ECONOMICS
ISSN/ISSBN：
0022-1996
DOI：
10.1016/0022-1996(93)90072-6
发表日期：
1993
页码：
167-180
关键词：
摘要：
This paper gives a valuation formula for LDC debt which is used to assess: (1) the price at which a buy-back of the debt is advantageous to the country; (2) the value to the creditors of having the flows of payment guaranteed against the extrinsic stochastic disturbances faced by the country; and (3) the trade-off between growth of payments and levels of payments. We finally offer an assessment of the Mexican agreement reached early in 1990.