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|z 9781451847413
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|a 1018-5941
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|a Messmacher, Miguel.
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|a Sovereign Debt Defaults and Financing Needs /
|c Miguel Messmacher, Mark Kruger.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2004.
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|a 1 online resource (33 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We construct a financial vulnerability indicator that is consistent with the theoretical literature on determinants of defaults. It is based on the amount of new foreign financing that is needed to avoid a default or an import adjustment, expressed as a proportion of the country's sources of foreign currency. As the need for new foreign financing increases, so does a country's financial vulnerability. The indicator has a higher correlation with default episodes than other indicators used in previous studies. In addition, the level at which it leads to a high probability of default is comparable across countries.
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|a Mode of access: Internet
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|a Kruger, Mark.
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|a IMF Working Papers; Working Paper ;
|v No. 2004/053
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2004/053/001.2004.issue-053-en.xml
|z IMF e-Library
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