Sovereign Debt, Structural Adjustment, and Conditionality.
The lack of a proper enforcement mechanism for sovereign debt generates a commitment failure. As a result, a sovereign may seek to improve its position in debt renegotiations and thus evade its debt obligations by reducing exports. Conditionality seeks to provide a solution to the incentive problem...
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Format: | Journal article |
Language: | English |
Published: |
1996
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