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Asset Trading and Debt Conversion

In: Economic Decision-Making in a Changing World

Author

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  • F. D. Loon

Abstract

In August 1982, Mexico announced that it was no longer able to satisfy terms of its foreign debt commitments. This precipitated similar moves by other developing countries, and set in motion the debt crisis which has affected international financial markets ever since. Debt restructuring, in which governments of debtor and creditor countries, international organizations and commercial banks all played a part, represented the main response to the debt crisis. In the free markets themselves, however, two developments have stood out as the most important new techniques developed as a direct result of the debt crisis: asset trading and debt conversion.

Suggested Citation

  • F. D. Loon, 1993. "Asset Trading and Debt Conversion," Palgrave Macmillan Books, in: G. A. Collenteur & C. J. Jepma (ed.), Economic Decision-Making in a Changing World, chapter 15, pages 160-172, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11144-2_15
    DOI: 10.1007/978-1-349-11144-2_15
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