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Sovereign Default, International Lending and Trade
Zymek, Robert - 2012
This paper sheds new light on the “trade costs” of sovereign default. It argues that the decline in trade in the wake of sovereign debt crises documented in earlier studies is the result of a reduction in exporters' access to foreign credit. Using an annual panel of 28 industries in 100...
Persistent link: https://www.econbiz.de/10013103916
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Prudent versus Imprudent Lending to Africa : From debt relief to emerging lenders
Reisen, Helmut - 2008
terms, NPV), in most cases below debtdistress level for even the lowest governance groups. Evidence on links between growth … debt relief, but they do this even more through stimulating exports and growth. This holds in particular for those …
Persistent link: https://www.econbiz.de/10012445250
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Following public finances : the mirage of MDBs countercyclicality
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2020
Fiscal policy and net capital inflows in developing countries are procyclical. A large amount of literature has examined this phenomenon and explored its consequences for aggregate fluctuations. Multilateral development banks (MDBs) are an important source of external finance for governments and...
Persistent link: https://www.econbiz.de/10012238386
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China's overseas lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2019 - This draft: July 3, 2019
Compared with China's dominance in world trade, its expanding role in global finance is poorly documented and understood. Over the past decades, China has exported record amounts of capital to the rest of the world. Many of these financial flows are not reported to the IMF, the BIS or the World...
Persistent link: https://www.econbiz.de/10012025564
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Tracking foreign capital : the effect of capital inflows on bank lending in the UK
Kneer, Christiane; Raabe, Alexander - 2019
This paper examines how UK banks channel capital inflows to the individual sectors of the domestic economy and to overseas residents. Information on the source country of foreign capital deposited with UK banks allows us to construct a novel Bartik instrument for capital inflows. Our results...
Persistent link: https://www.econbiz.de/10012025808
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Tracking foreign capital : the effect of capital inflows on bank lending in the UK
Kneer, Christiane; Raabe, Alexander - 2019
This paper examines how UK banks channel capital inflows to the individual sectors of the domestic economy and to overseas residents. Information on the source country of foreign capital deposited with UK banks allows us to construct a novel Bartik instrument for capital inflows. Our results...
Persistent link: https://www.econbiz.de/10012030006
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China's overseas lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2019 - This draft: April 16, 2020
Compared with China's pre-eminent status in world trade, its role in global finance is poorly understood. This paper studies the size, characteristics, and determinants of China's capital exports building a new database of 5000 loans and grants to 152 countries, 1949-2017. We find that 50% of...
Persistent link: https://www.econbiz.de/10012159810
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Sovereign external borrowing and multilateral lending : dynamics and crises
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2018
Fiscal policy is procyclical in developing countries. An ample literature has explained this fact and explored its consequences for aggregate cyclical fluctuations. Multilateral Development Banks (MDBs) are an important source of finance for governments and therefore play a role in the execution...
Persistent link: https://www.econbiz.de/10011959415
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Hidden defaults
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2022
China’s lending boom to developing countries is morphing into defaults and debt distress. Given the secrecy surrounding China’s loans, also the associated defaults remain “hidden”, as missed payments and restructuring details are not disclosed. We construct an encompassing dataset of...
Persistent link: https://www.econbiz.de/10012807855
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What are the Channels Through Which External Debt Affects Growth?
Pattillo, Catherine A. - 2006
This paper investigates the channels through which debt affects growth, specifically whether debt affects growth … through factor accumulation or total factor productivity growth. It also tests for the presence of nonlinearities in the … effects of debt on the different sources of growth. We use a large panel dataset of 61 developing countries over the period …
Persistent link: https://www.econbiz.de/10012783237