Name: An Econometric analysis of IBRD creditworthiness
Creator: McKenzie, David
Keywords: 0502 economics and business, 05 social sciences, 8. Economic growth, 1. No poverty, Environmental Economics&Policies,Payment Systems&Infrastructure,Banks&Banking Reform,Economic Theory&Research,Strategic Debt Management,Strategic Debt Management,Economic Theory&Research,Environmental Economics&Policies,Financial Intermediation,Banks&Banking Reform

descriptionPublicationkeyboard_double_arrow_right Article , Preprint 01 Dec 2004 English Publisher:Informa UK LimitedJournal:International Economic Journal, volume 18, pages 427-448 (issn: 1016-8737, eissn: 1743-517X,

Authors: McKenzie, David;

doi: 10.1080/1016873042000299927

An Econometric analysis of IBRD creditworthiness

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Abstract

This paper finds that one can econometrically ascertain the determinants of default to the International Bank for Reconstruction and Development (IBRD) through panel logit analysis. Creditworthiness is found to be determined by political and external factors in addition to economic variables. Default to the IBRD is seen to fall into a graduated hierarchy of default, whereby default occurs first to Paris Club and Commercial Bank creditors, with subsequent default to the IBRD being triggered by a high proportion of IBRD and short-term debt in the portfolio and other economic and political factors.

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Stanford University
United States

Keywords

Environmental Economics&Policies,Payment Systems&Infrastructure,Banks&Banking Reform,Economic Theory&Research,Strategic Debt Management,Strategic Debt Management,Economic Theory&Research,Environmental Economics&Policies,Financial Intermediation,Banks&Banking Reform

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