Defusing Default : Incentives and Institutions
Language: English
Published by Inter-American Development Bank, 2001
- First Edition
- Softcover
- Used
Seller: Katsumi-san Co., Cambridge, MA, U.S.A.Katsumi-san Co.
AbeBooks seller since October 15, 2002
Condition: Used - Very good
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366 p. [b 702].
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- Title
- Defusing Default : Incentives and Institutions
- Author
- Marco Pagano (ed.)
- Publisher
- Inter-American Development Bank
- Publication year
- 2001
- Condition
- Very Good
- Binding
- Soft cover
- Language
- English
- ISBN 10
- 1886938989
- ISBN 13
- 9781886938984
- Edition
- 1st Edition
How much protection should a country's judicial system afford creditors? The answer has far-reaching implications for the functioning of credit markets, particularly in developing regions such as Latin America, where creditor rights are uneven and enforcement often lax.
Defusing Default uses a variety of perspectives and tools, including theoretical modeling and cross-country evidence, to examine the costs and benefits of protecting creditor rights. Case studies look at creditor protection in Argentina, Brazil, Chile, Costa Rica, Paraguay and Peru.
The studies find that more effective judicial enforcement would help to make more credit available and improve the overall performance of the credit market. Another finding is that private contracting in credit markets, including information-sharing arrangements, can help compensate for legal deficiencies and create incentives to limit default in countries where judicial enforcement is costly or ineffective. Finally, the book explores the political economy of debt moratoria by examining bailouts and bankruptcy.
"Synopsis" may belong to another edition of this title.
About the Author
Marco Pagano is professor of economics at the University of Salerno, Italy and co-director of the Financial Economics Research Programme of the Centre for Economic Policy Research in London
"About the title" may belong to another edition of this title.
Katsumi-san Co.
Cambridge, MA, U.S.A.
AbeBooks seller since October 15, 2002
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