Sovereign Bond Restructuring : Collective Action Clauses and official Crisis Intervention /
This paper compares the restructuring of sovereign bonds with and without collective action clauses. One conclusion is that collective action clauses can allow efficient debt renegotiation in a formal model of sovereign debt renegotiation while unanimity rules offer incentives for opportunistic beha...
| Auteur principal: | |
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Collection: | IMF Working Papers; Working Paper ;
No. 2003/134 |
| Accès en ligne: | Full text available on IMF |