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Efficient debt reduction.

By: Sachs, Jeffrey.
Material type: materialTypeLabelBookPublisher: Washington : World Bank, 1989Subject(s): Debt | Debt repayments -- Credit. -- Debt repayments -- CreditSummary: This paper contends that debt reduction poses collective action problems that cannot be efficiently handled in the framework of voluntary market-based approaches.
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This paper contends that debt reduction poses collective action problems that cannot be efficiently handled in the framework of voluntary market-based approaches.

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