Defusing%20Default%3A%20Incentives%20and%20Institutions

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Defusing Default: Incentives and Institutions



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CODE: B-130
EDITOR(s): Pagano, Marco
PUBLISHED: January 2001
LANGUAGE: English
RELATED TOPICS: Finance
DOWNLOAD FILE IN: English

 

Abstract:

Access to capital is crucial for economic development. In many developing nations, however, high default rates present a serious obstacle to the creation of efficient capital markets. Defusing Default examines the problem of default in various countries throughout the Americas as well as public and private means of encouraging repayment of debts. Encompassing theoretical approaches and empirical data, with both contemporary and historical examples, the studies in this volume discuss how factors such as legal systems, judicial enforcement, and contractual arrangements affect the likelihood of repayment and how they can be improved.

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