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The Case for Bailing Out the Debtors
Author(s) -
COOLICAN ANGELA
Publication year - 1983
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1983.tb01525.x
Subject(s) - debtor , default , economics , business , finance , creditor , debt
In the last issue of the JEA Professor Karl Brunner and five American colleagues agreed that debtor nations that refuse to adopt policies to encourage domestic growth should be allowed to go bankrupt. Angela Coolican suggests that, so severe would be the effects on world trade and financial markets, a policy of default should be considered only in the most desperate of circumstances.