U.S. Commercial Banks and the Developing-Country Debt Crisis
研究美国商业银行如何应对发展中国家债务危机，发现银行已渡过危机，但许多债务国仍经济瘫痪，且市场共识认为大部分债务未来无法全额偿还。
The major theme of this paper is that the commercial banks have weathered the debt crisis, while many debtor countries remain in economic paralysis or worse.There is a growing consensus that much of the LDC debt will not be fully serviced in the future, and that consensus is reflected in at least two ways: in the discounts observed in the secondary market prices for LDC debt, and in the discounts in the stock market pricing of banks with exposure in the LDCs.