Results 11 to 20 of about 15,930 (298)

Sovereign Debt, Volatility, and Insurance [PDF]

Federal Reserve Bank of San Francisco, Working Paper Series, 2004
External debt increases the vulnerability of indebted emerging market economies to macroeconomic volatility and financial crises. Capital account reversals often lead sovereign debt repayment crises that are only resolved after prolonged and difficult debt restructuring. Foreign indebtedness exacerbates domestic financial distress in crisis, increasing
Kenneth Kletzer
openaire   +9 more sources

Will the Sovereign Debt Market Survive [PDF]

SSRN Electronic Journal, 2003
Economic theory and evidence from a variety of debt markets shed light on current reform proposals concerning emerging market debt. Debt markets, including the U.S. municipal bond market, generally function best when the rights of creditors are protected most effectively. Since current IMF reform proposals significantly emasculate creditor rights, they
Andrei Shleifer
openaire   +8 more sources

Supersanctions and sovereign debt repayment [PDF]

Journal of International Money and Finance, 2010
Abstract What might happen if a third-party entity had the power to implement fiscal reforms and/or punish sovereign debt defaulters? In contrast to recent history, extreme sanctions such as gunboat diplomacy and “fiscal house arrest” were used to punish debt defaulters during the period 1870–1913. We find that, after a “supersanction” was imposed, a
Kris James Mitchener, Marc D. Weidenmier
openaire   +2 more sources

Sovereign debt and growth in Zambia: determining the tipping point

Social Sciences and Humanities Open, 2021
From the mid-1980s to mid-2000s, Zambia was in egregious debt distress, which resulted in debt relief under the HIPC initiative and MDRI in 2005. Surprisingly, Zambia's debt-to-GDP ratio has increased astronomically from about 22 percent in 2011 to 56 ...
Sydney Chikalipah
doaj   +1 more source

Sovereign debt in a post-war period: endogenous opportunities and exogenous challenges for Ukraine

Наукові записки НаУКМА: Економічні науки, 2022
The purpose of this study is to present possible scenarios for assessing the levels of Ukraine’s sovereign debt burden in the context of the cumulative effect of Ukraine’s pre-war and post-war debt accumulation to avoid sovereign debt overload or even ...
Hennadiy Hryhoriev
doaj   +1 more source

Mapping of sovereign risks in small island economies: An application of contingent claim approach to fiji

Cogent Economics & Finance, 2020
While a decline in the market value of sovereign assets (below a benchmark level of liabilities) can trigger sovereign distress/default risk, volatility in sovereign assets can increase the risk premium on domestic debt and credit spread on external debt.
Devendra Kumar Jain, Rup Singh, Arvind Patel   +2 more
doaj   +1 more source

SOVEREIGN DEBT ISSUANCE CHOICE: SUKUK VS CONVENTIONAL BONDS

Journal of Islamic Monetary Economics and Finance, 2020
This paper investigates the determinants and their factors that affect governments’ decision to employ sovereign Sukuk over conventional bonds; the research is based on a sample of 143 Sukuk and 602 conventional sovereign bonds issued in 16 OIC countries
Rhada Boujlil, M. Kabir Hassan, Rihab Grassa   +2 more
doaj   +1 more source

Domestic and External Sovereign Debt [PDF]

SSRN Electronic Journal, 2017
AbstractWe develop a model that features costly market segmentation and financial repression to link domestic and external sovereign debt with default. In a financially repressed economy, a government that exploits its market power in the domestic economy can also increase its external debt capacity, owing to a novel, additional endogenous cost of ...
Di Casola, Paola, Sichlimiris, Spyridon
openaire   +2 more sources

From credit to debt: A political history of English sovereign finance and money from the seventh century to the seventeenth

Finance and Society, 2019
This article provides a new perspective on sovereign finance and money in England from pre-modern to early modern times. Re-reading the literature on sovereign fiscality through the lens of sovereign jurisdictions and religious authority, it describes ...
Nicholas Dorn
doaj   +1 more source

Exchange-traded funds of the eurozone sovereign debt [PDF]

Ekonomski Anali, 2010
Periods of high uncertainty bring liquidity concerns to the forefront for sovereign bond investors. Arguably the most liquid and cost-effective way for retail and small institutional investors to gain diversified sovereign bond exposure is through an ...
Drenovak Mikica, Urošević Branko
doaj   +1 more source