| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 963013 | Journal of International Economics | 2012 | 17 Pages |
Abstract
⺠Sovereign renegotiation is much shorter for bond debt than for bank debt since 1990. ⺠Bond debt is traded on secondary markets, while bank debt is illiquid. ⺠Trading helps reveal information of creditors and shortens renegotiations. ⺠Bond financing increases ex ante welfare under severe information friction.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Yan Bai, Jing Zhang,