Debt swapping in developing countries: A preliminary investigation
初步研究了债务互换的经济学原理，评估其优缺点，结论是利大于弊但无法根本解决债务问题，并附录分析了政府监管的福利效应。
Debt swapping has begun to be used over recent years as one means of alleviating the global debt problem. This article undertakes a preliminary investigation of the economics of debt swapping, and attempts to identify and assess the principal advantages and disadvantages of such schemes. The conclusion reached is that, while the benefits outweigh the costs, debt swapping will not do very much to tackle the fundamental issues involved in the debt problem. An appendix examines the welfare effects of governmental regulation of debt swapping.