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Sovereign Debt (sovereign + debt)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting66%
Humanities and Social Sciences33%

Terms modified by Sovereign Debt

  • sovereign debt crisis
    		•

    Selected Abstracts

    INCOME DISTRIBUTION, SOVEREIGN DEBT, AND PUBLIC INVESTMENT

    ECONOMICS & POLITICS, Issue 3 2005
    Cem Karayalçin
    We develop a political economy model of sovereign debt that shows that income inequality leads to popular pressures on the government to use foreign debt to finance a redistribution of income at the expense of productive public investment. Recognizing this fact, international lenders impose credit ceilings with the consequence that developing country borrowers invest less and grow slower. [source]

    EXCHANGE RATE REGIMES AND MONETARY COOPERATION: LESSONS FROM EAST ASIA AND LATIN AMERICA,

    THE JAPANESE ECONOMIC REVIEW, Issue 3 2004
    TAKATOSHI ITO
    This paper analyses the mechanisms of, and draws lessons from, currency crises in Asian and Latin American countries in the 1990s and 2000s. In Asian countries fiscal deficits were insignificant in size, and were not part of a crisis trigger, while in Latin America they played a major role in the crisis story. Crisis management by international financial institutions has been evolving over the last 10 years, and private-sector involvement (PSI) has occupied centre-stage in efforts to reform the international financial architecture. Sovereign debts, a focus of PSI discussions, were neither a cause nor a propagation of the Asian crises. [source]

    Reputation and international cooperation: sovereign debt across three centuries

    ECONOMIC HISTORY REVIEW, Issue 3 2009
    Marc Flandreau
    No abstract is available for this article. [source]

    INCOME DISTRIBUTION, SOVEREIGN DEBT, AND PUBLIC INVESTMENT

    ECONOMICS & POLITICS, Issue 3 2005
    Cem Karayalçin
    We develop a political economy model of sovereign debt that shows that income inequality leads to popular pressures on the government to use foreign debt to finance a redistribution of income at the expense of productive public investment. Recognizing this fact, international lenders impose credit ceilings with the consequence that developing country borrowers invest less and grow slower. [source]

    Predicting LDC debt rescheduling: performance evaluation of OLS, logit, and neural network models

    JOURNAL OF FORECASTING, Issue 8 2001
    Douglas K. Barney
    Abstract Empirical studies in the area of sovereign debt have used statistical models singularly to predict the probability of debt rescheduling. Unfortunately, researchers have made few efforts to test the reliability of these model predictions or to identify a superior prediction model among competing models. This paper tested neural network, OLS, and logit models' predictive abilities regarding debt rescheduling of less developed countries (LDC). All models predicted well out-of-sample. The results demonstrated a consistent performance of all models, indicating that researchers and practitioners can rely on neural networks or on the traditional statistical models to give useful predictions. Copyright © 2001 John Wiley & Sons, Ltd. [source]

    International Organization as a Seal of Approval: European Union Accession and Investor Risk

    AMERICAN JOURNAL OF POLITICAL SCIENCE, Issue 4 2009
    Julia Gray
    Much of the literature on international institutions argues that membership regularizes expectations about members' future behavior. Using the accession of the postcommunist countries as a test case, this article argues that the EU can send strong signals to financial markets about the trajectory of a particular country. Examining spreads on sovereign debt from 1990 to 2006, this article shows that closing negotiation chapters on domestic economic policy,in other words, receiving a seal of approval from Brussels that previously existing policy reform is acceptable to the wider EU,substantially decreases perceptions of default risk in those countries. That decrease operates independently from policy reform that the country has taken and is also distinct from selection processes (modeled here with new variables, including UNESCO World Heritage sites and domestic movie production, that proxy for cultural factors). Thus, this particular international organization has played an important role in coordinating market sentiment on members, conferring confidence that policy reform alone could not accomplish. [source]