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What drives sovereign debt portfolios of banks in a crisis context?

Lamas, Matías; Mencía, Javier - 2019

particular, we show that being a weakly capitalized bank is not related to higher holdings of domestic sovereign debt. While a … strong link is present between central bank liquidity support and sovereign holdings, opportunistic strategies or reach … advantage of their higher risk-bearing capacity to gain exposure (via central bank liquidity) to the set of riskier sovereign …

Persistent link: https://www.econbiz.de/10011978836

Financial crises and recession in the global economy

Allen, Roy E. - 2023 - Fifth edition

"In this incisive fifth edition of Financial Crises and Recession in the Global Economy, Roy E. Allen examines the major financial instabilities, crises, and evolutionary trends since the 1970s and through the recent Covid-19 pandemic. Providing empirical research on the relation between money...

Persistent link: https://www.econbiz.de/10014437075

The Impact of Bailouts on the Probability of Sovereign Debt Crises : Evidence from IMF-Supported Programs

Balima, Hippolyte - 2019

This paper studies the role of IMF-supported programs in mitigating the likelihood of subsequent sovereign defaults in borrowing countries. Using a panel of 106 developing countries from 1970 to 2016 and an entropy balancing methodology, we find that IMF-supported programs significantly reduce...

Persistent link: https://www.econbiz.de/10012892896

Quo vadis, euroland? European Monetary Union between crisis and reform

Hellwig, Martin - 2011

-estate and banking crises in countries like Ireland and Spain and bank vulnerability in countries like Germany and France … fiscal stance, (ii) independence of bank supervisors from their respective political authorities, and (iii) a strengthening … ; sovereign debt crisis ; bank supervision …

Persistent link: https://www.econbiz.de/10009153317

Bank loan supply during crises : the importance of geographic diversication

Dörr, Sebastian; Schaz, Philipp - 2018

We classify a large sample of banks according to the geographic diversification of their international syndicated loan portfolio. Our results show that diversified banks maintain higher loan supply during banking crises in borrower countries. The positive loan supply effects lead to higher...

Persistent link: https://www.econbiz.de/10011857209

Are twin currency and debt crisis special?

Bauer, Christian; Herz, Bernhard; Karb, Volker - 2006

In the literature on currency and banking crises it has become the standard procedure to distinguish pure currency crises, pure banking crises and combined ("twin") currency and banking crises. We show theoretically and empirically that a similar differentiation should be chosen with regard to...

Persistent link: https://www.econbiz.de/10009746211

Resolution of balance of payments crises : emergency financing and debt workouts

Ocampo Gaviria, José Antonio - 2015

-established deadlines, similar to that used in the World Trade Organization's dispute settlement process. …

Persistent link: https://www.econbiz.de/10010465432

Don't Cry for Argentina (or Other Sovereign Borrowers) : Lessons from a Previous Era of Sovereign Debt Contract Enforcement

Chabot, Benjamin Remy - 2016

criticism is warranted and notes that a similar enforcement mechanism was employed by the London Stock Exchange before World War … I to deny sovereign borrowers in breach of their contracts access to international capital markets.The pre-World War I … good intentions and enjoy the benefits of cheap access to world capital markets …

Persistent link: https://www.econbiz.de/10012987619

Repatriation of Debt in the Euro Crisis : Evidence for the Secondary Market Theory

Brutti, Filippo - 2013

The Euro Crisis has marked a sharp inversion in the process of the European financial integration and, more specifically, a repatriation of countries' debt from foreign to domestic investors. Yet the drivers of the financial fragmentation remain unclear. This paper investigates the empirical...

Persistent link: https://www.econbiz.de/10013083147

The Risk of the Sovereign Debt Default : The Eurozone Crisis 2008-2013

Stamatopoulos, Theodoros V. - 2016

We investigate the relationship of the market pricing of sovereign risk to default, through CDS spreads for 16 Eurozone countries during 2008q1-2013q3. We take into account, through appropriate non-linear GMM estimations the endogeneity problem. We focus on “fiscal space” (DEBT or FISCAL),...

Persistent link: https://www.econbiz.de/10012976894