Bond Restructuring and Moral Hazard : Are Collective Action Clauses Costly?
Many official groups have endorsed the wider use by emerging market borrowers of contract clauses which allow for a qualified majority of bondholders to restructure repayment terms in the event of financial distress. Some have argued that such clauses will be associated with moral hazard and increas...
| Main Author: | |
|---|---|
| Other Authors: | , |
| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2001
|
| Series: | IMF Working Papers ;
Working Paper No. 01/92 IMF eLibrary |
| Subjects: |