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The International Monetary Fund: 70 years of reinvention
Reinhart, Carmen M.; Trebesch, Christoph - 2015
, as the needs of its clients and the type of crisis changed substantially over time. Some deceptively "new" IMF activities … are not entirely new. Before emerging market economies dominated IMF programs, advanced economies were its earliest (and … largest) clients through the 1970s. While currency problems were the dominant trigger of IMF involvement in the earlier …
Persistent link: https://www.econbiz.de/10011498368
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The International Monetary Fund : 70 years of reinvention
Reinhart, Carmen M.; Trebesch, Christoph - 2015 - This draft: December 10, 2015
, as the needs of its clients and the type of crisis changed substantially over time. Some deceptively "new" IMF activities … are not entirely new. Before emerging market economies dominated IMF programs, advanced economies were its earliest (and … largest) clients through the 1970s. While currency problems were the dominant trigger of IMF involvement in the earlier …
Persistent link: https://www.econbiz.de/10011405082
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Sovereign Default Risk and Private Sector Access to Capital in Emerging Markets
Das, Udaibir S.; Papaioannou, Michael G.; Trebesch, … - International Monetary Fund (IMF) - 2010
Top down spillovers of sovereign default risk can have serious consequences for the private sector in emerging markets. This paper analyzes the effects of these spillovers using firm-level data from 31 emerging market economies. We assess how sovereign risk affects corporate access to...
Persistent link: https://www.econbiz.de/10008561075
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What explains sovereign debt litigation
Schumacher, Julian; Trebesch, Christoph; Enderlein, Henrik - 2015
We study the occurrence of holdout litigation in the context of sovereign defaults. The number of creditor lawsuits against foreign governments has strongly increased over the past decades, but there is a large variation across crisis events. Why are some defaults followed by a "run to the...
Persistent link: https://www.econbiz.de/10010512583
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Sovereign defaults in court
Schumacher, Julian; Trebesch, Christoph; Enderlein, Henrik - 2018
centuries, defaulting governments were immune from legal action by foreign creditors. This paper shows that this is no longer the case. Building a dataset covering four decades, we find that creditor lawsuits have become an increasingly common feature of sovereign debt markets. The legal...
Persistent link: https://www.econbiz.de/10011804203
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Sovereign haircuts : 200 years of creditor losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or "haircuts". Our sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor losses vary widely (from none to 100%), but the...
Persistent link: https://www.econbiz.de/10014557831
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Coping with Disasters: Two Centuries of International Official Lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012263145
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Coping with disasters: Two centuries of international official lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012234816
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Coping with disasters : two centuries of international official lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012233649
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Coping with disasters : two centuries of international official lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020 - This draft: June 9, 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012261746