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Jeanne, Olivier D.

Debt Maturity and the International Financial Architecture Olivier Jeanne. [electronic resource] / Olivier Jeanne. - Washington, D.C. : International Monetary Fund, 2004. - 1 online resource (33 p.) - IMF Working Papers; Working Paper ; No. 04/137 . - IMF Working Papers; Working Paper ; No. 04/137 .

This paper presents a theory of the maturity of international sovereign debt and derives its implications for the reform of the international financial architecture. It presents a general equilibrium model in which the need to roll over external debt disciplines the policies of debtor countries but makes them vulnerable to unwarranted debt crises owing to bad shocks. The paper presents a welfare analysis of several measures that have been discussed in recent debates, such as the adoption of renegotiation-friendly clauses in debt contracts and the establishment of an international bankruptcy regime for sovereigns.

ISBN: 145185594X : 15.00 USD

ISSN: 1018-5941

Standard No.: 10.5089/9781451855944.001 doi

Subjects--Topical Terms:
Collective Action Clause
Debt Contract
Debt Contracts
International Bankruptcy Court
International Financial Architecture
International Lending and Debt Problems

Subjects--Geographic Terms:
Argentina
Indonesia
Jersey
Malaysia
Thailand