Sovereign risk and secondary markets
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- dc.contributor.author Broner, Fernandoca
- dc.contributor.author Martin, Alberto, 1974-ca
- dc.contributor.author Ventura, Jaumeca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T10:50:01Z
- dc.date.available 2017-07-26T10:50:01Z
- dc.date.issued 2006-12-01
- dc.date.modified 2017-07-23T02:10:54Z
- dc.description.abstract Conventional wisdom views the problem of sovereign risk as one of insufficient penalties. Foreign creditors can only be repaid if the government enforces foreign debts. And this will only happen if foreign creditors can effectively use the threat of imposing penalties to the country. Guided by this assessment of the problem, policy prescriptions to reduce sovereign risk have focused on providing incentives for governments to enforce foreign debts. For instance, countries might want to favor increased trade ties and other forms of foreign dependence that make them vulnerable to foreign retaliation thereby increasing the costs of default penalties.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=998
- dc.identifier.citation American Economic Review, 100 (4), 1523-1555, 2010
- dc.identifier.uri http://hdl.handle.net/10230/1040
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 998
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword sovereign risk
- dc.subject.keyword secondary markets
- dc.subject.keyword default penalties
- dc.subject.keyword commitment
- dc.subject.keyword international risk sharing
- dc.subject.keyword international borrowing
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Sovereign risk and secondary marketsca
- dc.type info:eu-repo/semantics/workingPaper