Download This PaperU.S. Commercial Banks and the Developing Country Debt Crisis
78 Pages Posted: 27 Apr 2000 Last revised: 18 Sep 2022
Date Written: December 1987
Abstract
The major theme of this paper is that the commercial banks have weathered the debt crisis, while many debtor countries remain in economic paralysis or worse. There is a growing consensus that much of the LDC debt will not be fully serviced in the future, and that consensus is reflected in at least two ways: in the discounts observed in the secondary market prices for LDC debt, and in the discounts in the stock market pricing of banks with exposure in the LDCs.
Suggested Citation: Suggested Citation
Sachs, Jeffrey D. and Huizinga, Harry, U.S. Commercial Banks and the Developing Country Debt Crisis (December 1987). NBER Working Paper No. w2455, Available at SSRN: https://ssrn.com/abstract=227117
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