You can manage bookmarks using lists, please log in to your user account for this.
Media type:
E-Book;
Report
Title:
Pooling sovereignty risks: The case of environmental treaties and international debt
Contributor:
Mohr, Ernst
[Author];
Thomas, Jonathan P.
[Author]
imprint:
Kiel: Kiel Institute of World Economics (IfW); Kiel, Hamburg: ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, 1993
Language:
English
Origination:
Footnote:
Diese Datenquelle enthält auch Bestandsnachweise, die nicht zu einem Volltext führen.
Description:
A model is analysed in which a sovereign country has independent obligations to repay a creditor bank and to keep an environmental treaty. It is shown that the linkage of both obligations through a cross-default contract may reduce the sovereign risk attached to both the debt and the environmental contracts. Moreover, such a linkage will create an incentive for the sovereign and the bank to engage in a debt-for-natureswap, the anticipation of which increases the initial incentive for a cross-default contract to be entered into.