Debt maturity structure with pre-emptive creditors

Prasanna Gai; Hyun Song Shin

doi:10.1016/j.econlet.2004.03.031

Debt maturity structure with pre-emptive creditors

Prasanna Gai^*, Hyun Song Shin

^*Corresponding author for this work

Indonesia Project

Research output: Contribution to journal › Article › peer-review

2 Citations (Scopus)

Abstract

Critics of international solvency regimes argue that such regimes heighten financial fragility because creditors pre-empt each other by lending at ever shorter maturities in a 'rush for the exits'. We model such behaviour explicitly in order to examine the effects of workouts on the maturity profile of debt.

Original language	English
Pages (from-to)	195-200
Number of pages	6
Journal	Economics Letters
Volume	85
Issue number	2
DOIs	https://doi.org/10.1016/j.econlet.2004.03.031
Publication status	Published - Nov 2004

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10.1016/j.econlet.2004.03.031

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title = "Debt maturity structure with pre-emptive creditors",

abstract = "Critics of international solvency regimes argue that such regimes heighten financial fragility because creditors pre-empt each other by lending at ever shorter maturities in a 'rush for the exits'. We model such behaviour explicitly in order to examine the effects of workouts on the maturity profile of debt.",

keywords = "Debt maturity structure, International financial architecture, Sovereign debt workouts",

author = "Prasanna Gai and Shin, {Hyun Song}",

year = "2004",

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AU - Gai, Prasanna

AU - Shin, Hyun Song

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AB - Critics of international solvency regimes argue that such regimes heighten financial fragility because creditors pre-empt each other by lending at ever shorter maturities in a 'rush for the exits'. We model such behaviour explicitly in order to examine the effects of workouts on the maturity profile of debt.

KW - Debt maturity structure

KW - International financial architecture

KW - Sovereign debt workouts

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U2 - 10.1016/j.econlet.2004.03.031

DO - 10.1016/j.econlet.2004.03.031

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VL - 85

SP - 195

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JO - Economics Letters

JF - Economics Letters

IS - 2

ER -

Debt maturity structure with pre-emptive creditors

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