Business, Commercial & Financial Law, Foreign & International Law, Professional Finance & Investing, Credit & Debt
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Overview
The 1980s saw a debt crisis among developing countries that indicated a deeper, dangerous fault in the foundations of financial mechanisms. Rocha argues that contractually provided adaptation mechanisms can help avoid the disruption of medium- and long-term financing transactions; he also challenges the current practice of hazardous and resource-consuming ad hoc debt rescheduling that has characterized debt tremors to date. General adoption of these flexible adaptation mechanisms would be, argues Rocha, like flexible construction joints in an earthquake: both debtors and lenders would be more stable in the rocky environment of international finance.Book Details
Published
January 5, 1999
Publisher
London ; Kegan Paul International, 1999.
Pages
256
Format
Hardcover
ISBN
9780710305909