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Empirical Research on Sovereign Debt and Default

Author

Listed:
  • Michael Tomz

    (Department of Political Science, Stanford Center for International Development, and Stanford Institute for Economic Policy Research, Stanford University, Stanford, California 94305)

  • Mark L.J. Wright

    (Federal Reserve Bank of Chicago, Chicago, Illinois 60604
    Department of Economics, University of California, Los Angeles, California 90095
    National Bureau of Economic Research, Cambridge, Massachusetts 02138)

Abstract

In this article, we review the empirical literature about sovereign debt and default. As we survey the work of economists, historians, and political scientists, we also emphasize parallel developments by theorists and recommend steps to improve the correspondence between theory and data.

Suggested Citation

  • Michael Tomz & Mark L.J. Wright, 2013. "Empirical Research on Sovereign Debt and Default," Annual Review of Economics, Annual Reviews, vol. 5(1), pages 247-272, May.
  • Handle: RePEc:anr:reveco:v:5:y:2013:p:247-272
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    Keywords

    capital flows; international macroeconomics; international relations; political economy;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General

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