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Volume 12, Issue 1.
Winter
The international bond markets have failed to realize their potential as a source of development financing. Legal restrictions imposed by the member countries of the Organization for Economic Cooperation and Development have combined with structural and financial constraints faced by the developing countries to inhibit the issuing of bonds. Investors ... read morein developed countries have been discouraged from buying these bonds for the same reasons. In this article, Scott Shane examines a number of capital market innovations that can help overcome these hurdles.
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