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Sovereign Debt Defaults: Concerns and Lessons

In: Emerging Asia

Author

Listed:
  • Ramkishen S. Rajan

    (School of Public Policy, George Mason University, USA and Visiting Senior Fellow, Institute of Southeast Asian Studies (ISEAS))

Abstract

Just when financial markets appeared to have turned the corner and concerns had shifted to whether “irrational exuberance” had returned and markets had become too “frothy”, the world was blind-sided by yet another crisis. This time it was the November 25, 2010 announcement by the Dubai government that one of the city’s largest and most important state-owned conglomerates, Dubai World, was requesting suspension on some of its debt repayments as it restructured its finances and operations, particularly those related to its property development subsidiary, Nakheel.

Suggested Citation

  • Ramkishen S. Rajan, 2011. "Sovereign Debt Defaults: Concerns and Lessons," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Emerging Asia, chapter 9, pages 49-53, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-30627-1_9
    DOI: 10.1057/9780230306271_9
    as

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