Holdouts in Sovereign Debt Restructuring: A Theory of Negotiation in a Weak Contractual Environment
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https://www.nber.org/papers/w16632
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资源简介：
Why is it difficult to restructure sovereign debt in a timely manner? In this paper we present a theory of the sovereign debt restructuring process in which delay arises as individual creditors hold-up a set- tlement in order to extract greater payments from the sovereign. We then use the theory to
提供机构：
美国国家经济研究局
创建时间：
2010-12-01
