Front Matter Page
Monetary and Capital Markets Department
Authorized for distribution by Udaibir S. Das
Contents
I. Introduction
II. Related Literature
A. Debt Crises and Private Sector Access to Credit
B. The Role of Cooperation and Policy Signals
III. Econometric Methodology
A. Previous Approaches
B. Estimated Model
C. Dependent Variable: Foreign Credit to the Private Sector
D. Measuring Crisis Episodes
IV. Data: The Index of Coerciveness
A. Composition of the Index
B. Coding of the Index
V. Estimation Issues: Controlling for Shocks, Politics and Fundamentals
VI. Discussion of Results
A. Main Results
B. Effects of Individual Coercive Policies
C. Robustness Analysis
VII. Concluding Remarks
References
Tables
1. Emerging Market Countries Included in the Estimations
2. List of Control Variables
3. Effect of Aggressive Debt Policies on Total Amount Borrowed
4. Default Effects and Aggressive Debt Policies During Default
5. Effect of Individual Coercive Actions (9 Sub-Indicators)
6. Robustness Tests