Since its creation as a country in 1993, Slovakia's average real growth rate has been not only the highest among Eurozone countries, it has been the highest in the European Union. And unlike most “peripheral” Eurozone countries, most recently (March/April, 2013) Cyprus and Slovenia, it has...

This paper analyses the incentive compatibility effects associated with restructuring sovereign debt through a debt-equity swap scheme and the analytically related issue of providing new project finance in developing countries through equity convertible bond issues. Our central result is that...