This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly … constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950â …€“2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris …

model that explicitly analyzes the links between public investment, economic growth, and debt sustainability. In the model … costs and ensure debt sustainability. More modest increases in public investment would require more feasible increases in … efficiency of investment, the transition period is challenging and exposes the country to increased risk of unsustainable debt …

a fundamental improvement in the seniority of domestic debt at the expense of foreign bank debt during the late 1980s … sources of fiscal financing influenced external debt values. The econometric analysis also implies that previous studies have … neglected an important reason for the decline in loan values from 1985 to 1989: the increase in international interest rates. …

developing countries. While external financing of government debt mitigates the crowding-out effect, it generates real … larger when facing debt-elastic country risk premia. Also, government spending is more expansionary with more home bias in …

repay its foreign debt, signaled by sound macroeconomic policies, and the global liquidity environment. Using panel data for … 49 countries over a 24-year period, the analysis uses a simple probit approach to show that, indeed, a sustainable debt …

government revenues, loans are priced at market interest rates, and their maturity falls within the same fiscal year; and (iv) in … conditions of these loans are typically established by law, such that the amount is capped at a small proportion of annual …

The interest rate-growth differential (IRGD) shows a marked correlation with GDP per capita. It has been on average …-advanced economies - exerting a powerful stabilizing influence on government debt ratios. We show that large negative IRGDs are largely … due to real interest rates well below market equilibrium - possibly stemming from financial repression and captive and …