Importe haben für manche Gruppen einer Volkswirtschaft eine unangenehme Konsequenz: Importe reduzieren die Gewinne; sie zerstören Arbeitsplätze in den Sektoren, die Importsubstitute herstellen; sie bedrohen die Position von Wirtschaftszweigen und vernichten gar die Existenz. Möglicherweise...

A sovereign debtor facing a credit limit due to unenforceable debt contracts may have an incentive to increase its creditworthiness by making itself subject to more severe sanctions in response to a debt repudiation. It is shown that for a natural resources exporting country this incentive may...

We consider the problem of stabilising the income of a country, henceforth the borrower, which would always prefer a stable income to a random income with the same average, i.e. a country which is risk-averse. This would be appropriate for countries which are heavily reliant upon agricultural...