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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/11035

Title: The secondary market in less developed countries' debt : development, efficiency and debt reduction
Authors: Shepherdson, Ian C.
Issue Date: 1992
Publisher: © Ian C. Shepherdson
Abstract: 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.
Description: A Doctoral Thesis. Submitted in partial fulfilment of the requirements for the award of Doctor of Philosophy of Loughborough University.
URI: https://dspace.lboro.ac.uk/2134/11035
Appears in Collections:PhD Theses (Business School)

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