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Overlooked Sovereign Credit Events and Non-Pecuniary Defaults : British Debt Sustainability in the Post-Second World War Period

Hileman, Garrick - 2017

This paper examines UK sovereign debt sustainability following the Second World War. Even though the UK in 1946 … default following the Second World War. New archival evidence shows that Britain in fact defaulted multiple times following … the Second World War by failing to fulfil several non-pecuniary terms of the Anglo-American Financial Agreement. Several …

Persistent link: https://www.econbiz.de/10012968878

The Seven Mechanisms for Achieving Sovereign Debt Sustainability

Hileman, Garrick - 2016

This paper surveys the sovereign debt literature and summarizes the political economy trade-offs of seven distinct mechanisms for achieving debt sustainability. Two mechanisms – financial aid and asset exchange – are often underemphasized or entirely overlooked even though they can play an...

Persistent link: https://www.econbiz.de/10012996772

Fiscal rules and optimal currency composition of sovereign debt in emerging economies

Valencia, Oscar M.; Rodriguez, Luis Alberto; Siachoque, … - 2023

Total public debt in most emerging markets grew before and after the pandemic with a sizable share in foreign currency. Along this trend, interest payments increased even in the presence of active fiscal rules in some countries. How should debt management of public debt be set under a fiscal...

Persistent link: https://www.econbiz.de/10014471269

Fiscal Variables and Growth Convergence in the ECOWAS

Magazzino, Cosimo - 2016

Purpose – The purpose of this paper is to assess the relationship among fiscal variables (net lending, government expenditure and revenue) and economic growth in Sub-Saharan African countries.Design/methodology/approach – Using yearly data for the period between 1980 and 2011 in15 Economic...

Persistent link: https://www.econbiz.de/10012991915

Local Government Debt and Growth Convergence

Pang, Haokun - 2021

The link between public debt and growth has long been discussed. This paper evaluates the effect on growth convergence from local government debt using a panel data of 276 Chinese cities. Our results show that Chinese local government debt hike since 2008 had a robust positive effect on growth...

Persistent link: https://www.econbiz.de/10013221069

Sovereign Theft : Theory and Evidence about Sovereign Default and Expropriation

Tomz, Michael - 2009

This paper examines two major risks to foreign investors: default on sovereign debt and expropriation of foreign direct investment, which we refer to collectively as "sovereign theft." Using a series of formal models, we analyze how the incentives to engage in sovereign theft vary with the state...

Persistent link: https://www.econbiz.de/10013160487

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

A Stable and Social Europe: Fiscal Rules, a Stabilization Fund, Insolvency Rules, Gender Quota, Gender Pension Gaps, and Education. Reports

Fratzscher, Marcel; Kriwoluzky, Alexander; Michelsen, Claus - In: DIW Weekly Report 9 (2019) 16/18, pp. 148-159

Persistent link: https://www.econbiz.de/10012014957

Stabiles und soziales Europa: Fiskalregeln, Stabilisierungsfonds, Insolvenzregeln, Gender Quote, Gender Pension Gaps, Bildung. Berichte

Weinhardt, Felix; Hammerschmid, Anna; Rowold, Carla; … - In: DIW Wochenbericht 86 (2019) 18, pp. 310-321

Persistent link: https://www.econbiz.de/10012016353

Trends, patterns and determinants of Australian foreign direct investment

Sharma, Kishor; Bandara, Yapa - In: Journal of economic issues : jei 44 (2010) 3, pp. 661-676

Persistent link: https://www.econbiz.de/10008701560