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Moral Hazard and International Crisis Lending: A Test »
Article
Source: Moral Hazard and International Crisis Lending : A Test
Volume/Issue: 2002/181
Series: IMF Working Papers
Author(s): Giovanni Dell'Ariccia , Jeronimo Zettelmeyer , and Isabel Schnabel
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2002
ISBN: 9781451859201
Keywords: international lending, bond, crisis lending, bond spreads, bonds, International Lending and Debt Problems, Econometric Methods: - Single Equation Models,
We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailou...