A Model of Sovereign Debt in Democracies /
This paper develops and empirically tests a political economy model of sovereign debt. The main incentive for repaying sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose default regardless of its consequences for future generatio...
| Príomhchruthaitheoir: | |
|---|---|
| Formáid: | IRIS |
| Teanga: | English |
| Foilsithe / Cruthaithe: |
Washington, D.C. :
International Monetary Fund,
2008.
|
| Sraith: | IMF Working Papers; Working Paper ;
No. 2008/152 |
| Rochtain ar líne: | Full text available on IMF |