This paper examines key determinants of the distance between the sovereign's credit rating and the ratings of sub-sovereign foreign currency bonds, such as bond issuers' type, debt characteristics, and global and country's economic conditions. Using a comprehensive international bond-level...

This paper focuses on the debt build-up that frontier low-income developing countries (LIDCs) have faced since 2012. First, it documents a 20-percentage point increase in the external and government debt-to-GDP ratios, a composition shift toward higher non-concessional debt, and a rise in...

In this paper we unpack the possibilities and constraints facing sovereign development funds. Our focus and logic is primarily conceptual and deductive rather than directly empirical and inductive. We consider how and in what ways sovereign wealth can be employed for the purpose of economic...

This recently completed thesis provides an overview of the historical and current trends in international debt crises, especially concerning sovereign borrowing and lending practices. Particular attention is given to the rise of litigious vulture funds, as well as the possibilities of developing...