Purpose - This study attempts to figure out the factors that contributed to deposing certain elected presidents before the end of their constitutional terms, alongside tracing the new political context that prevailed in Latin America since 1978 and its impact on direct political participation...

We quantify the probability that a sovereign defaults on repayment obligations in foreign currency. Adopting the structural approach as first introduced by Merton, we consider the sovereigns ability-to-pay, characterised by the sum of discounted future payment surpluses, as the underlying...