Lending Resumption After Default : Lessons from Capital Markets During the 19th Century

Lessons from Capital Markets During the 19th Century

Lending Resumption After Default : Lessons from Capital Markets During the 19th Century
This paper mines the experience of capital markets during the 19th century to propose an alternative way of interpreting international default episodes. The standard view is that defaulting on sovereign debt entails exclusion from capital markets. Yet we have observed multiple instances of sovereign debt default in which the reaction of lenders... READ MORE...

Publication date: July 2006
ISBN 9781451864366
$15.00

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