search query: @author Pettis, M. / total: 2
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| Author: | Pettis, M. |
| Title: | Debt to export ratios and default probabilities |
| Journal: | Columbia Journal of World Business
1994 : SUMMER, VOL. 29:2, p. 78-83 |
| Index terms: | DEBT EXPORTS PROBABILITY |
| Language: | eng |
| Abstract: | Traditionally, lenders evaluate a sovereign borrower's debt servicing capacity as a function of debt-to-export ration (DER) plus future expected investment inflows. The obvious weakness of this method is that most attempts to correlate various forms of the DER with some objective measure of default risk have not proven successful. Pettis suggest a more novel approach - by re-evaluating ratio analysis in light of the developments of current option theory. |
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