How Long to Read On the Benefits of Repaying

How Long Does it Take to Read On the Benefits of Repaying?

It takes the average reader and 50 minutes to read On the Benefits of Repaying by Francesca G Caselli

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper studies whether countries benefit from servicing their debts during times of widespread sovereign defaults. Colombia is typically regarded as the only large Latin American country that did not default in the 1980s. Using archival research and formal econometric estimates of Colombia's probability of default, we show that in the early 1980s Colombia's fundamentals were not significantly different from those of the Latin American countries that defaulted on their debts. We also document that the different path chosen by Colombia was due to the authorities' belief that maintaining a good reputation in the international capital market would have substantial long-term payoffs. We show that the case of Colombia is more complex than what it is commonly assumed. Although Colombia had to re-profile its debts, high-level political support from the US allowed Colombia do to so outside the standard framework of an IMF program. Our counterfactual analysis shows that in the short to medium run, Colombia benefitted from avoiding an explicit default. Specifically, we find that GDP growth in the 1980s was higher than that of a counterfactual in which Colombia behaved like its neighboring countries. We also test whether Colombia's behavior in the 1980s led to long-term reputational benefits. Using an event study based on a large sudden stop, we find no evidence for such long-lasting reputational gains.

How long is On the Benefits of Repaying?

On the Benefits of Repaying by Francesca G Caselli is 50 pages long, and a total of 12,500 words.

This makes it 17% the length of the average book. It also has 15% more words than the average book.

How Long Does it Take to Read On the Benefits of Repaying Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 8 minutes to read On the Benefits of Repaying aloud.

What Reading Level is On the Benefits of Repaying?

On the Benefits of Repaying is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy On the Benefits of Repaying?

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