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Title: |
Bank Lending to LDCs: Lessons from the 1970s |
| Author: |
Antzoulatos,
Angelos A.; Seth, Naveen |
| Author
Affiliation: |
U Piraeus;
Baruch College, CUNY |
| Source: |
International Economic Journal, Summer 2003, v. 17, no. 2, pp. 19-36 |
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Publication Date: |
Summer 2003 |
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Abstract: |
We use a
recently-compiled database with monthly observations, to analyse the
determinants of syndicated loans to Latin American (L.A.) and East Asian
countries, for the period 1972-1982. Our results indicate that the loans
were to a large extent supply-driven, and thus provide econometric
evidence that "overlending" was a significant determinant of them along
with economic fundamentals in the borrowing countries. They also suggest
that E. Asia' s recent currency and banking crises will not likely
develop into another "debt crisis", precipitated by a prolonged
withdrawal of private capital from the region. |
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