04739oam 22012374 450 991078840280332120230828235734.01-4623-0945-31-4527-4611-71-283-51741-81-4519-0903-99786613829863(CKB)3360000000443912(EBL)3014312(SSID)ssj0000940138(PQKBManifestationID)11519264(PQKBTitleCode)TC0000940138(PQKBWorkID)10948645(PQKB)10761389(OCoLC)712989240(MiAaPQ)EBC3014312(IMF)WPIEE2006109(EXLCZ)99336000000044391220020129d2006 uf 0engur|n|---|||||txtccrDonor Herding and Domestic Debt Crisis /Ephraim Chirwa, Montfort Mlachila, Yohane Anthony KhamfulaWashington, D.C. :International Monetary Fund,2006.1 online resource (10 p.)IMF Working Papers"April 2006."1-4518-6369-1 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE MODEL""; ""III. CONCLUSION""; ""REFERENCES""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.IMF Working Papers; Working Paper ;No. 2006/109Debts, ExternalDeveloping countriesEconometric modelsEconomic assistanceDeveloping countriesEconometric modelsBanks and BankingimfExports and ImportsimfFinancial Risk ManagementimfPublic FinanceimfIndustries: Financial ServicesimfDebtimfDebt ManagementimfSovereign DebtimfBanksimfDepository InstitutionsimfMicro Finance InstitutionsimfMortgagesimfFinancial CrisesimfInternational Lending and Debt ProblemsimfInterest Rates: Determination, Term Structure, and EffectsimfPublic finance & taxationimfFinanceimfEconomic & financial crises & disastersimfInternational economicsimfDomestic debtimfLoansimfFinancial crisesimfDebt defaultimfReal interest ratesimfDebts, PublicimfDebts, ExternalimfInterest ratesimfDebts, ExternalEconometric models.Economic assistanceEconometric models.Banks and BankingExports and ImportsFinancial Risk ManagementPublic FinanceIndustries: Financial ServicesDebtDebt ManagementSovereign DebtBanksDepository InstitutionsMicro Finance InstitutionsMortgagesFinancial CrisesInternational Lending and Debt ProblemsInterest Rates: Determination, Term Structure, and EffectsPublic finance & taxationFinanceEconomic & financial crises & disastersInternational economicsDomestic debtLoansFinancial crisesDebt defaultReal interest ratesDebts, PublicDebts, ExternalInterest ratesChirwa Ephraim802166Mlachila Montfort1493464Khamfula Yohane Anthony1574008International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910788402803321Donor Herding and Domestic Debt Crisis3849999UNINA