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Record Nr. |
UNINA9910956119003321 |
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Autore |
Chirwa Ephraim |
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Titolo |
Donor Herding and Domestic Debt Crisis / / Ephraim Chirwa, Montfort Mlachila, Yohane Anthony Khamfula |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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9786613829863 |
9781462309450 |
1462309453 |
9781452746111 |
1452746117 |
9781283517416 |
1283517418 |
9781451909036 |
1451909039 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (10 p.) |
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Collana |
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Altri autori (Persone) |
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KhamfulaYohane Anthony |
MlachilaMontfort |
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Soggetti |
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Debts, External - Developing countries - Econometric models |
Economic assistance - Developing countries - Econometric models |
Banks and Banking |
Banks |
Debt default |
Debt Management |
Debt |
Debts, External |
Debts, Public |
Depository Institutions |
Domestic debt |
Economic & financial crises & disasters |
Exports and Imports |
Finance |
Financial Crises |
Financial crises |
Financial Risk Management |
Industries: Financial Services |
Interest rates |
Interest Rates: Determination, Term Structure, and Effects |
International economics |
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International Lending and Debt Problems |
Loans |
Micro Finance Institutions |
Mortgages |
Public finance & taxation |
Public Finance |
Real interest rates |
Sovereign Debt |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. CONCLUSION""; ""REFERENCES"" |
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Sommario/riassunto |
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This paper presents a new model based on the loan-pushing model by Basu (1991) to show how a domestic debt crisis can occur in a low-income country following donor herding. The model focuses on the rational herding behavior of donors due to payoff and information externalities. Although there are many theoretical models on herding behavior, these models have not formally considered the relationship between donor herding and domestic debt crisis in a low-income country. This paper is an attempt to fill this gap. The paper shows that due to donor herding behavior a domestic debt crisis can occur once the actual debt level is above the desirable one. |
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