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Assessing new perspectives on country risk

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Author Info
Claudio Borio
Frank Packer
Abstract

We examine in a unified framework three recent perspectives on country risk=debt intolerance, original sin, and currency mismatches. We find statistical evidence supporting aspects of all three, though the strength of that support varies considerably across hypotheses and a number of open questions remain. Our evidence is consistent with the view that good domestic macroeconomic and structural policies hold the key to addressing country risk.

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Article provided by Bank for International Settlements in its journal BIS Quarterly Review.

Volume (Year): (2004)
Issue (Month): (December)
Pages:
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Handle: RePEc:bis:bisqtr:0412e

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Find related papers by JEL classification:
F30 - International Economics - - International Finance - - - General
G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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This page was last updated on 2008-4-29.

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