MOURMOURAS, ALEXANDROS; RANGAZAS, PETER - In: The Singapore Economic Review (SER) 60 (2015) 01, pp. 1550002-1
We analyze how the altruism of an International Financial Institution (IFI) towards its Low-Income member Countries (LICs) alters the effectiveness of its loans. We study IFI loans to a credit-constrained LIC. The IFI's repayment policy is determined by the interplay of its concerns for the...