Multilateral debt relief through the eyes of financial markets (Record no. 23375)

000 -LEADER
fixed length control field 02238nam a22003137a 4500
001 - CONTROL NUMBER
control field 15728835
003 - CONTROL NUMBER IDENTIFIER
control field The World Bank
005 - DATE AND TIME OF LATEST TRANSACTION
control field 20181114090231.0
006 - FIXED-LENGTH DATA ELEMENTS--ADDITIONAL MATERIAL CHARACTERISTICS--GENERAL INFORMATION
fixed length control field m d
007 - PHYSICAL DESCRIPTION FIXED FIELD--GENERAL INFORMATION
fixed length control field cr cn|||||||||
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 090507s2009 dcu sb i000 0 eng
010 ## - LIBRARY OF CONGRESS CONTROL NUMBER
LC control number 2009655562
035 ## - SYSTEM CONTROL NUMBER
System control number (The World Bank)15728835
040 ## - CATALOGING SOURCE
Original cataloging agency DLC
Transcribing agency DLC
050 00 - LIBRARY OF CONGRESS CALL NUMBER
Classification number HG3881.5.W57
100 1# - MAIN ENTRY--PERSONAL NAME
Personal name Raddatz, Claudio E.
245 10 - TITLE STATEMENT
Title Multilateral debt relief through the eyes of financial markets
Medium [electronic resource] /
Statement of responsibility, etc Claudio Raddatz.
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc [Washington, D.C. :
Name of publisher, distributor, etc World Bank,
Date of publication, distribution, etc 2009]
490 1# - SERIES STATEMENT
Series statement Policy research working paper ;
Volume number/sequential designation 4872
500 ## - GENERAL NOTE
General note Title from PDF file as viewed on 5/7/2009.
504 ## - BIBLIOGRAPHY, ETC. NOTE
Bibliography, etc Includes bibliographical references.
520 3# - SUMMARY, ETC.
Summary, etc "The economic benefits of debt relief for recipient countries have been the subject of arduous debate, at least partly motivated by the difficulty of identifying the causal effect of debt relief on economic performance-given that performance itself may drive the decision to grant relief. This paper conducts an event study to assess the economic consequences of multilateral debt relief for recipient countries that is robust to these reverse causality issues. It estimates the response of the stock prices of South African multinationals with subsidiaries in those countries to the announcement of debt relief initiatives, and shows that stock prices exhibit a significant increase above those of other firms, especially around the launching of the recent Multilateral Debt Relief Initiative. The improvement in financial markets' assessment of the value of these multinationals is consistent with lower expected levels of future taxation in the recipient countries. Overall, the results are consistent with the "debt overhang" argument for debt relief. "--World Bank web site.
530 ## - ADDITIONAL PHYSICAL FORM AVAILABLE NOTE
Additional physical form available note Also available in print.
650 #0 - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Debt relief.
710 2# - ADDED ENTRY--CORPORATE NAME
Corporate name or jurisdiction name as entry element World Bank.
776 18 - ADDITIONAL PHYSICAL FORM ENTRY
Main entry heading Print version:
Display text Raddatz, Claudio E.
Title Multilateral debt relief through the eyes of financial markets.
Place, publisher, and date of publication [Washington, D.C. : World Bank, 2009]
830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE
Uniform title Policy research working papers ;
Volume number/sequential designation 4872.
830 #0 - SERIES ADDED ENTRY--UNIFORM TITLE
Uniform title World Bank e-Library.
856 40 - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-4872">http://elibrary.worldbank.org/doi/book/10.1596/1813-9450-4872</a>

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