Ongoing privatization and financial liberalization in emerging economies have let to continuous growth in the number of depository receipt offerings from these countries. Asian and Latin American companies have been the biggest source of offerings. The main advantages of depository receipts stem...

Debt-for-development exchanges matter. They make debt relief more politically and practically attractive to donor countries, and serve the development of recipient countries through the cancellation of external debt and the funding of important development projects. This article explores one of...