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Sovereigns' public capital influences sovereign debt crises and resolution. We compile a dataset on public expenditure composition around restructurings with private external creditors. We show that during restructurings, public investment (i) experiences severe decline and slow recovery, (ii)...
Persistent link: https://www.econbiz.de/10012824991
Sovereigns' public capital influences sovereign debt crises and resolution. We compile a dataset on public expenditure composition around restructurings with private external creditors. We show that during restructurings, public investment experiences severe decline and slow recovery, differs...
Persistent link: https://www.econbiz.de/10012862658