Creative Commons Attribution 4.0 International License (CC BY 4.0)

Copyright (c) 2026 Shawn Cole, Cesaire Meh, Fanele Mashwama, Florian Mölders

This reproducibility package — including all code, documentation, and publicly
shareable data files contained herein — is licensed under the Creative Commons
Attribution 4.0 International License.

You are free to:
  Share — copy and redistribute the material in any medium or format
  Adapt — remix, transform, and build upon the material for any purpose,
          even commercially

Under the following terms:
  Attribution — You must give appropriate credit, provide a link to the license,
                and indicate if changes were made.

Full license text: https://creativecommons.org/licenses/by/4.0/

EXCEPTIONS:
  - The confidential IFC loan-level datasets (Loan cash flows anonymized.dta,
    Loan terms_anonymized.dta, IFC default data_anonymized.dta) are NOT covered
    by this license. They are the property of the International Finance
    Corporation (IFC) and are subject to separate access restrictions described
    in README.md (Section 2, "Data Availability and Provenance Statement").
  - The JPMorgan CEMBI and EMBI index data files are proprietary to JPMorgan
    Chase & Co. and are included solely for World Bank virtual verification
    purposes. They may not be redistributed further.
