Series: IMF Working Papers
Author(s): Aasim Husain
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 March 1992
Keywords: debt, creditor, debt overhang, debtor country
This paper shows that concerted debt reduction may be welfare-improving even when the investment disincentive effect of a debt overhang is not large enough to place the debtor country on the wrong side of the debt...