Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2019 - This draft: July 3, 2019
three dozen developing countries, and distort the risk assessment in both policy surveillance and the market pricing of …. Lower income developing economies mostly receive direct loans from China's state-owned banks, often at market rates and … countries from 1949 to 2017. We find that about one half of China's overseas loans to the developing world are "hidden". …