FLANDREAU, MARC; GAILLARD, NORBERT; PACKER, FRANK - In: European Review of Economic History 15 (2011) 03, pp. 495-538
This article provides a new perspective on the interwar foreign debt crisis by analysing original data on the credit ratings, market yields and subsequent performance of government borrowers in the New York market. We focus on the four agencies that are known to have been operating at the time...