Debt-equity swaps and foreign direct investment in Latin America

This paper discusses how debt-equity swaps affect flows of foreign direct investment (FDI). It is based on research that concentrates on four major Latin American debtors, Argentina, Brazil, Chile and Mexico. The paper examines how investment decisions of multinational corporations and commercial ba...

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Bibliographic Details
Main Authors: Bergsman, Joel, Edisis, Wayne
Corporate Author: Corporación Financiera Internacional
Format: Book
Published: Washington, D.C. World Bank 1989
Series:Discussion paper no. 2
Subjects:

MARC

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100 |a Bergsman, Joel 
100 |a Edisis, Wayne 
245 |a Debt-equity swaps and foreign direct investment in Latin America  |c / Joel Bergsman, Wayne Edisis 
260 |b World Bank 
260 |a Washington, D.C. 
260 |c 1989 
300 |a vi, 24 p. :  |b il. 
490 |a Discussion paper  |v no. 2 
504 |a Incluye bibliografía 
505 |a Summary and conclusions -- 1. Introduction -- 2. Results -- 3. A final word -- Text tables -- Annexes. 
520 |a This paper discusses how debt-equity swaps affect flows of foreign direct investment (FDI). It is based on research that concentrates on four major Latin American debtors, Argentina, Brazil, Chile and Mexico. The paper examines how investment decisions of multinational corporations and commercial banks have been influenced both by the opportunity to use swaps, and by the different features of swap programs. The primary question is to what extent the availability of swaps has motivated investors to undertake projects that they otherwise would not have attempted. The paper also analyzes the many different ways that investors have used swaps (e.g., buy-outs, financial restructuring, technological improvements, or new capacity creation; export markets or domestic sales; privatization). From the analysis of the effects of swap programs on investors ' behaviour, the paper also draws some lessons about the usefulness of swap programs and about their designs. 
650 |a DEUDA EXTERNA  
650 |a INVERSIONES EXTRANJERAS  
650 |a CREDITO RECIPROCO  
650 |a CONVERSIONES DE LA DEUDA  
650 |a BANCO MUNDIAL 
651 |a AMERICA LATINA 
653 |a CREDITO CRUZADO  
653 |a SWAPS 
653 |a BIRF 
700 |a Edisis, Wayne 
710 |a Corporación Financiera Internacional 
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