Sovereign Debt And The Financial Crisis
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Sovereign Debt And The Financial Crisis
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Author : Carlos A. Primo Braga
language : en
Publisher: World Bank Publications
Release Date : 2010-11-16
Sovereign Debt And The Financial Crisis written by Carlos A. Primo Braga and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-16 with Business & Economics categories.
The book presents and discusses policy-relevant research on the current debt challenges which developing, emerging market and developed countries face. Its value added lies in the integrated approach of drawing on theoretical research and evidence from practitioners' experience in developing and emerging market countries.
Sovereign Debt
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Author : Robert W. Kolb
language : en
Publisher: John Wiley & Sons
Release Date : 2011-02-25
Sovereign Debt written by Robert W. Kolb and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-25 with Business & Economics categories.
An intelligent analysis of the dangers, opportunities, and consequences of global sovereign debt Sovereign debt is growing internationally at a terrifying rate, as nations seek to prop up their collapsing economies. One only needs to look at the sovereign risk pressures faced by Greece, Spain, and Ireland to get an idea of how big this problem has become. Understanding this dilemma is now more important than ever, that's why Robert Kolb has compiled Sovereign Debt. With this book as your guide, you'll gain a better perspective on the essential issues surrounding sovereign debt and default through discussions of national defaults, systemic risk, associated costs, and much more. Historical studies are also included to provide a realistic framework of reference. Contains up-to-date research and analysis on sovereign debt from today's leading practitioners and academics Details the dangers of defaults and their associated systemic risks Explores the past, present, and future of sovereign debt The repercussions of a national default are all-encompassing as global markets are intricately interwoven in the modern world. Sovereign Debt examines what it will take to overcome the challenges of this market and how you can deal with the uncertainty surrounding it.
Financial And Sovereign Debt Crises
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Author : Ms.Carmen Reinhart
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-24
Financial And Sovereign Debt Crises written by Ms.Carmen Reinhart and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-24 with Business & Economics categories.
Even after one of the most severe multi-year crises on record in the advanced economies, the received wisdom in policy circles clings to the notion that high-income countries are completely different from their emerging market counterparts. The current phase of the official policy approach is predicated on the assumption that debt sustainability can be achieved through a mix of austerity, forbearance and growth. The claim is that advanced countries do not need to resort to the standard toolkit of emerging markets, including debt restructurings and conversions, higher inflation, capital controls and other forms of financial repression. As we document, this claim is at odds with the historical track record of most advanced economies, where debt restructuring or conversions, financial Repression, and a tolerance for higher inflation, or a combination of these were an integral part of the resolution of significant past debt overhangs.
Sovereign Debt Crisis
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Author : D. Chorafas
language : en
Publisher: Springer
Release Date : 2011-06-13
Sovereign Debt Crisis written by D. Chorafas and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-06-13 with Business & Economics categories.
Restructuring the balance sheets of Western governments, banks and households is an important issue in the recovery after the recent crisis. Chorafas' latest book focuses on sovereign debt, sovereign risk and the developing economic and financial business climate and explains why the year of the big crisis may fall in the middle of this decade.
Sovereign Debt Crises
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Author : Juan Pablo Bohoslavsky
language : en
Publisher: Cambridge University Press
Release Date : 2017-11-02
Sovereign Debt Crises written by Juan Pablo Bohoslavsky and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-02 with Business & Economics categories.
Contributes to a better understanding of the policy, economic, and legal options of countries struggling with debt problems.
The European Sovereign Debt Crisis And Its Impacts On Financial Markets
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Author : Go Tamakoshi
language : en
Publisher: Routledge
Release Date : 2015-02-11
The European Sovereign Debt Crisis And Its Impacts On Financial Markets written by Go Tamakoshi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-02-11 with Business & Economics categories.
The global financial crisis saw many Eurozone countries bearing excessive public debt. This led the government bond yields of some peripheral countries to rise sharply, resulting in the outbreak of the European sovereign debt crisis. The debt crisis is characterized by its immediate spread from Greece, the country of origin, to its neighbouring countries and the connection between the Eurozone banking sector and the public sector debt. Addressing these interesting features, this book sheds light on the impacts of the crisis on various financial markets in Europe. This book is among the first to conduct a thorough empirical analysis of the European sovereign debt crisis. It analyses, using advanced econometric methodologies, why the crisis escalated so prominently, having significant impacts on a wide range of financial markets, and was not just limited to government bond markets. The book also allows one to understand the consequences and the overall impact of such a debt crisis, enabling investors and policymakers to formulate diversification strategies, and create suitable regulatory frameworks.
Reflections On The Greek Sovereign Debt Crisis
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Author : Aristidis Bitzenis
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2014-09-26
Reflections On The Greek Sovereign Debt Crisis written by Aristidis Bitzenis and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-26 with Political Science categories.
The euro was generally considered a success in its first decade. Nevertheless, the “unanticipated” financial crisis in the summer of 2007 has developed gradually into the worst global economic crisis in post-war economic history and a sovereign debt crisis, calling into question the endurance of positive externalities under the current form of European economic integration. The experience of double-dip recessions in the core of the euro-area and the occurrence of a deflationary spiral in its southern periphery brings into question the wisdom of fiscal consolidation via austerity in the adjustment programmes adopted to exit the crisis. They also put into doubt the adequacy and efficiency of the European Economic and Monetary Union’s core elements, its political instruments and macroeconomic assumptions, as can be seen in the role of the Stability and Growth Pact and the stance of the European Central Bank. The title of this collective volume refers to the country where the European sovereign debt crisis began, while its contents concentrate on the extent to which this crisis should be a national or a European concern. Moreover, the focus on Greece stimulates discussion about the neglected factor of the shadow economy and the potential to boost government revenue through its successful transfer to the formal economy. The chapters address the inefficiencies of both euro-area institutions and policies adopted to exit the current predicament. Experts from several disciplines review the literature and critically evaluate the existence of issues such as contagion effects, domino effects, deflationary spirals, institutional efficiency and the reality of the option to exit the euro-area.
Sovereign Debt Sd In Advanced Economies
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Author : Rebecca M. Nelson
language : en
Publisher: DIANE Publishing
Release Date : 2011-08
Sovereign Debt Sd In Advanced Economies written by Rebecca M. Nelson and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08 with Business & Economics categories.
SD, also called public debt or gov¿t. debt, refers to debt incurred by governments. Since the global financial crisis of 2008-2009, public debt in advanced economies has increased substantially. A number of factors related to the financial crisis have fueled the increase, including fiscal stimulus packages, the nationalization of private-sector debt, and lower tax revenue. Even if economic growth reverses some of these trends, aging populations in advanced economies are expected to strain gov¿t. debt levels in coming years. Contents of this report: Def. and Concepts; Trends in SD; Addressing High Debt Levels; Is the U.S. Headed for a Eurozone-Style Debt Crisis?; Implications for the U.S. Economy; U.S. Bank Exposure Overseas. Illus. A print on demand report.
Sovereign Debt Markets In Turbulent Times
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Author : Fernando Broner
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-27
Sovereign Debt Markets In Turbulent Times written by Fernando Broner and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-27 with Business & Economics categories.
In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and, surprisingly, so did the share of the debt held by domestic creditors. Credit was reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for these facts, we propose a simple model of sovereign risk in which debt can be traded in secondary markets. The model has two key ingredients: creditor discrimination and crowding-out effects. Creditor discrimination arises because, in turbulent times, sovereign debt offers a higher expected return to domestic creditors than to foreign ones. This provides incentives for domestic purchases of debt. Crowding-out effects arise because private borrowing is limited by financial frictions. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce growth and welfare, and may lead to self-fulfilling crises. It also shows how crowding-out effects can be transmitted to other countries in the Eurozone, and how they may be addressed by policies at the European level.
In Good Times Prepare For Crisis
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Author : Ira Lieberman
language : en
Publisher: Brookings Institution Press
Release Date : 2018-10-09
In Good Times Prepare For Crisis written by Ira Lieberman and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-10-09 with Business & Economics categories.
Sovereign debt crises are a little like the weather: One can get ready to endure them and maybe take some steps to lessen their impact, but so far it hasn't been possible to prevent them. Like the weather, they just keep happening. That's the overriding thesis of this book tracing the major debt crises of the past century, starting with the Great Depression and running through the recent Great Recession. Written by a former World Bank expert on debt crises, this book discusses best practices for how such crises can be resolved. As the painful experience of the past decade reminded everyone, frequent debt crises and defaults do great damage to economies and cause vast personal hardship. But resolving them has proven difficult—both economically and politically—and has taken time, almost always requiring a lender of last resort such as a country's central bank or the International Monetary Fund. Too often, efforts to end debt crises have been little more than a palliative, and the debt overhang from one crisis contributes to the next, as illustrated by the ongoing saga in Greece. Both private and sovereign debts have increased substantially since the 2008 crisis, with inadequate deleveraging. This debt overhang leaves countries vulnerable and with limited maneuverability to address the next crisis. This book does not pretend to describe how debt crises can be prevented. But it does draw useful lessons from recent crises that can help economists, bankers, policymakers, and others resolve the inevitable future crises with the least possible damage.