{"title":"非正式债权人和主权债务重组。","authors":"Sayantan Ghosal, Dania Thomas","doi":"10.1007/s41775-023-00158-z","DOIUrl":null,"url":null,"abstract":"<p><p>A conventional view of sovereign debt restructuring suggests that costly sovereign debt restructuring is required to lower the interest rate charged on it. In the presence of a negative external shock, under certain conditions, we show that (a) debt restructuring leads to interim social welfare gains and ex ante efficiency gains, (b) participation by citizens will lead to efficient debt restructuring. Using our results, we discuss provide a normative case for the proposed UNCTAD Roadmap.</p>","PeriodicalId":36028,"journal":{"name":"Indian Economic Review","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9951168/pdf/","citationCount":"0","resultStr":"{\"title\":\"Informal creditors and sovereign debt restructuring.\",\"authors\":\"Sayantan Ghosal, Dania Thomas\",\"doi\":\"10.1007/s41775-023-00158-z\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p><p>A conventional view of sovereign debt restructuring suggests that costly sovereign debt restructuring is required to lower the interest rate charged on it. In the presence of a negative external shock, under certain conditions, we show that (a) debt restructuring leads to interim social welfare gains and ex ante efficiency gains, (b) participation by citizens will lead to efficient debt restructuring. Using our results, we discuss provide a normative case for the proposed UNCTAD Roadmap.</p>\",\"PeriodicalId\":36028,\"journal\":{\"name\":\"Indian Economic Review\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-02-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9951168/pdf/\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Indian Economic Review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1007/s41775-023-00158-z\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"Economics, Econometrics and Finance\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Indian Economic Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1007/s41775-023-00158-z","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
Informal creditors and sovereign debt restructuring.
A conventional view of sovereign debt restructuring suggests that costly sovereign debt restructuring is required to lower the interest rate charged on it. In the presence of a negative external shock, under certain conditions, we show that (a) debt restructuring leads to interim social welfare gains and ex ante efficiency gains, (b) participation by citizens will lead to efficient debt restructuring. Using our results, we discuss provide a normative case for the proposed UNCTAD Roadmap.
Indian Economic ReviewEconomics, Econometrics and Finance-Economics, Econometrics and Finance (miscellaneous)
CiteScore
2.10
自引率
0.00%
发文量
12
期刊介绍：
The Indian Economic Review aims to provide a platform for dissemination of innovative research in economics that employs theoretical and empirical approaches. Original research in all areas of economics is welcome. These areas include but are not limited toAgricultural and resource economics Behavioural economics Development economics Economic theory Economics of health and education Environmental economics Experimental economics Game theory Industrial organisation International trade and finance Law and economics Macro and monetary economics Poverty and inequality
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