The Costs of Sovereign Default:
This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs a...
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C
International Monetary Fund
2008
|
| Series: | IMF Working Papers
Working Paper No. 08/238 |
| Online Access: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Summary: | This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises |
| Physical Description: | 1 Online-Ressource (50 p) |
| ISBN: | 1451870965 9781451870961 |
Staff View
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| index_date | 2024-07-03T20:13:25Z |
| indexdate | 2024-07-10T09:35:33Z |
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| spelling | Borensztein, Eduardo Verfasser aut The Costs of Sovereign Default Borensztein, Eduardo Washington, D.C International Monetary Fund 2008 1 Online-Ressource (50 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/238 This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises Online-Ausg Panizza, Ugo Sonstige oth http://elibrary.imf.org/view/IMF001/09617-9781451870961/09617-9781451870961/09617-9781451870961.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Borensztein, Eduardo The Costs of Sovereign Default |
| title | The Costs of Sovereign Default |
| title_auth | The Costs of Sovereign Default |
| title_exact_search | The Costs of Sovereign Default |
| title_exact_search_txtP | The Costs of Sovereign Default |
| title_full | The Costs of Sovereign Default Borensztein, Eduardo |
| title_fullStr | The Costs of Sovereign Default Borensztein, Eduardo |
| title_full_unstemmed | The Costs of Sovereign Default Borensztein, Eduardo |
| title_short | The Costs of Sovereign Default |
| title_sort | the costs of sovereign default |
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