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| Tekijä: | Eichengreen, B. Mody, A. |
| Otsikko: | Bail-ins, bailouts, and borrowing costs |
| Lehti: | IMF Staff papers
2001 : VOL. 47, special issue, p. 155-187 |
| Asiasana: | Financing Borrowing |
| Kieli: | eng |
| Tiivistelmä: | The authors examine how IMF programs and collective action clauses affect the terms of market access. They find different effects on different types of borrowers. Fund programs appear to create additional commitment for bond borrowers with "intermediate" credit, who consequently are able to borrow at lower cost. Moreover, Fund programs with limited structural conditions heve the most favorable effects on investor confidence |
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