Results 11 to 20 of about 20,546 (255)
Groningen Journal of International Law, 2015 In the aftermath of Argentina’s 2001 economic crisis, creditors not participating in the country sovereign debt restructuring insisted on full payment. The triplet of investment arbitration decisions upheld jurisdiction over the mass claims presented by ...
Josef Ostřanský
doaj +1 more source
OECD Economics Department Working Papers, 2018 This paper provides robust empirical evidence that government effectiveness is a key determinant of sovereign defaults. Government effectiveness is measured by a broad-based perception index of the Worldwide Governance Indicators database (WGI) disseminated by the World Bank.
openaire +1 more source
Review of International Political Economy, 2021 Scholars continue to debate why states repay their debts to foreign creditors. The existing literature stresses the short-term economic and political costs that deter default, focusing on reputational damage, creditor reprisals, spillover costs, and loss of office.
openaire +1 more source
Argentina's default and the lack of dire consequences
Economia Aplicada, 2011 We analyze the 2001 Argentine default on its foreign debt and its consequences in terms of the existing literature on sovereign debt default. It is our purpose to evaluate this experience and to see to what extent the Argentine case requires a re ...
Werner Baer +2 more
doaj +1 more source
The Recurrence of Long Cycles: Theories, Stylized Facts and Figures
World Review of Political Economy, 2019 Basic innovations and their diffusion, the expansion or contraction of the level of economic activity and the volume of international trade, rising sovereign debts and their defaults, conflicts and the outbreak of wars, are some ...
Lefteris Tsoulfidis, Aris Papageorgiou
doaj +1 more source
Államcsődök nyomában = Sovereign defaults [PDF]
, 2015 Az államoknak nyújtott hitelekre gyakran gondolunk biztonságos befektetésként, felettébb valószerűtlen kimenetelként kezelve az államcsőd lehetőségét.
Vidovics-Dancs, Ágnes
core +1 more source
Efficient Sovereign Default [PDF]
The Review of Economic Studies, 2018 In this article, I show that the key aspects of sovereign debt crises can be rationalized as part of the efficient risk-sharing arrangement between a sovereign borrower and foreign lenders in a production economy with informational and commitment frictions.
openaire +1 more source
International Finance Discussion Papers, 2018 Governments issue debt both domestically and abroad. This heterogeneity introduces the possibility for governments to operate selective defaults that discriminate across investors. Using a novel dataset on the legal jurisdiction of sovereign defaults that distinguishes between defaults under domestic law and default under foreign law, we show that ...
Aitor Erce, Enrico Mallucci
openaire +1 more source
Estimating Sovereign Default Risk [PDF]
American Economic Review, 2012 This paper uses Bayesian methods to estimate the sovereign default probability for Greece and Italy in the post-EMU period. We build a real business cycle model that allows for interactions among fiscal policy instruments, sovereign default risk, and a “fiscal limit,” which measures the maximum level of debt the government is willing to finance.
Huixin Bi, Nora Traum
openaire +2 more sources
Sovereign default and capital accumulation [PDF]
Journal of International Economics, 2014 I introduce endogenous capital accumulation into an otherwise standard quantitative sovereign default model in the tradition of Eaton and Gersovitz (1981), and find that conditional on a level of debt, default incentives are U shaped in the capital stock: the economy with too small or too large amounts of capital is likely to default. In addition to an
openaire +1 more source