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Title: The secondary market in less developed countries' debt : development, efficiency and debt reduction
Author: Shepherdson, Ian Charles
ISNI:       0000 0001 3403 7811
Awarding Body: Loughborough University of Technology
Current Institution: Loughborough University
Date of Award: 1992
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The thesis describes and analyses, within a framework of qualitative market development theory, the development of the Secondary Market in the bank debts of less developed countries. A survey of market participants is presented and analysed. The theory of financial market efficiency is assessed, and secondary market price data is used to test the theory in the secondary market context. Market-based debt reduction is described in theory and in practice, with a qualitative and quantitative assessment of the Brady Initiative. Simulations and sensitivity analysis of the likely effect on debt servicing ability for the first three beneficiaries of Brady debt restructuring are presented. Suggestions for further research are presented in the concluding chapter.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Third World