04958oam 22013334 450 991095611900332120250426110045.0978661382986397814623094501462309453978145274611114527461179781283517416128351741897814519090361451909039(CKB)3360000000443912(EBL)3014312(SSID)ssj0000940138(PQKBManifestationID)11519264(PQKBTitleCode)TC0000940138(PQKBWorkID)10948645(PQKB)10761389(OCoLC)712989240(IMF)WPIEE2006109(MiAaPQ)EBC3014312(IMF)WPIEA2006109WPIEA2006109(EXLCZ)99336000000044391220020129d2006 uf 0engur|n|---|||||txtccrDonor Herding and Domestic Debt Crisis /Ephraim Chirwa, Montfort Mlachila, Yohane Anthony Khamfula1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (10 p.)IMF Working Papers"April 2006."9781451863697 1451863691 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 BankingimfBanksimfDebt defaultimfDebt ManagementimfDebtimfDebts, ExternalimfDebts, PublicimfDepository InstitutionsimfDomestic debtimfEconomic & financial crises & disastersimfExports and ImportsimfFinanceimfFinancial CrisesimfFinancial crisesimfFinancial Risk ManagementimfIndustries: Financial ServicesimfInterest ratesimfInterest Rates: Determination, Term Structure, and EffectsimfInternational economicsimfInternational Lending and Debt ProblemsimfLoansimfMicro Finance InstitutionsimfMortgagesimfPublic finance & taxationimfPublic FinanceimfReal interest ratesimfSovereign DebtimfDebts, ExternalEconometric models.Economic assistanceEconometric models.Banks and BankingBanksDebt defaultDebt ManagementDebtDebts, ExternalDebts, PublicDepository InstitutionsDomestic debtEconomic & financial crises & disastersExports and ImportsFinanceFinancial CrisesFinancial crisesFinancial Risk ManagementIndustries: Financial ServicesInterest ratesInterest Rates: Determination, Term Structure, and EffectsInternational economicsInternational Lending and Debt ProblemsLoansMicro Finance InstitutionsMortgagesPublic finance & taxationPublic FinanceReal interest ratesSovereign DebtChirwa Ephraim802166Khamfula Yohane Anthony1816213Mlachila Montfort1815726International Monetary Fund.Western Hemisphere Dept.DcWaIMFBOOK9910956119003321Donor Herding and Domestic Debt Crisis4372010UNINA