This paper describes the history of sovereign debt crises and the ways in which sovereign debt crises can spread like a virus from country to country and from the sovereign sector to other sectors of the economy. This latter propagation often has been ignored in the academic literature, though...

Sovereign debt crises do not need to be viral. Whether they are depends on the government's interaction with the private sector. The more open an economy, the less likely it is that a sovereign debt crisis will infect the domestic private sector. More importantly, the larger the government's...

"This groundbreaking collection on global leadership features innovative and critical perspectives by scholars from international relations, political economy, medicine, law and philosophy, from North and South. The book's novel theorization of global leadership is situated historically within...

Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...