Results 11 to 20 of about 20,607 (271)
Sovereign defaults and banking crises [PDF]
Journal of Monetary Economics, 2018 Episodes of sovereign default feature three key empirical regularities in connection with the banking systems of the countries where they occur: (i) sovereign defaults and banking crises tend to happen together, (ii) commercial banks have substantial holdings of government debt, and (iii) sovereign defaults result in major contractions ...
Cesar Sosa-Padilla
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Determinants of sovereign defaults [PDF]
The Quarterly Review of Economics and Finance, 2018 Abstract We study major sovereign defaults from 1970 to 2010 using an advanced duration analysis method. Descriptive analysis of the data indicates a cyclical nature of these defaults over a longer period. Regression results highlight the importance of the international monetary conditions as the volatilities of US treasury bills rates and USD ...
Ghulam, Yaseen, Derber, Julian
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Internal debt crises and sovereign defaults [PDF]
Journal of Monetary Economics, 2014 Internal and sovereign debt crises occur together and happen more frequently in economies with weak bankruptcy institutions. This paper provides a novel explanation. Internal crises arise because of the inability to liquidate private debtors when many default. In an optimal contract, a successful entrepreneur repays yet an unsuccessful one defaults and
Cristina Arellano +1 more
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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
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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.
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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.
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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
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Államcsődök nyomában = Sovereign defaults [PDF]
, 2015 Az államoknak nyújtott hitelekre gyakran gondolunk biztonságos befektetésként, felettébb valószerűtlen kimenetelként kezelve az államcsőd lehetőségét.
Vidovics-Dancs, Ágnes
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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
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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.
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