Trade Costs of Sovereign Debt Restructurings : Does a Market-Friendly Approach Improve the Outcome?

Does a Market-Friendly Approach Improve the Outcome?

Trade Costs of Sovereign Debt Restructurings : Does a Market-Friendly Approach Improve the Outcome?
Sovereign debt restructurings have been shown to influence the dynamics of imports and exports. This paper shows that the impact can vary substantially depending on whether the restructuring takes place preemptively without missing payments to creditors, or whether it takes place after a default has occurred. We document that countries with... READ MORE...

Publication date: November 2016
ISBN 9781475553857
$18.00

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