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Foreign long term government loans of Serbia 1862-1914

Author

Listed:
  • Dragana Gnjatoviæ

    (Faculty of Geo-Economy, Megatrend University)

Abstract

The paper gives an overview of foreign government loans to Serbia from 1862 to 1914. It considers the reasons for borrowing abroad and the conditions under which foreign banks placed Serbian government bonds on the European capital markets. Special attention is paid to the phenomenon of foreign government loans issued below par. Also, an analysis is made of the relationship between the stability of government finances and effective interest rates.

Suggested Citation

  • Dragana Gnjatoviæ, 2009. "Foreign long term government loans of Serbia 1862-1914," SEEMHN papers 11, National Bank of Serbia.
  • Handle: RePEc:nsb:seemhn:11
    Note: The paper was presented at the Fourth Annual SEEMHN Conference hosted by the National Bank of Serbia, 27 March 2009 in Belgrade.
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    File URL: http://www.nbs.rs/internet/latinica/90/seemhn/seemhn_conf/SEEMHN_2_Dragana_Gnjatovic.pdf
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    References listed on IDEAS

    as
    1. Rui Pedro Esteves, 2007. "Quis custodiet quem? Sovereign Debt and Bondholders` Protection Before 1914," Economics Series Working Papers 323, University of Oxford, Department of Economics.
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    Citations

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    Cited by:

    1. Rui Esteves & João Tovar Jalles, 2016. "Like Father Like Sons? The Cost of Sovereign Defaults in Reduced Credit to the Private Sector," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(7), pages 1515-1545, October.

    More about this item

    Keywords

    Foreign Government Loans; Government Bonds Issued Below Par; Serbia 1862-1914;

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • N13 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: Pre-1913
    • N23 - Economic History - - Financial Markets and Institutions - - - Europe: Pre-1913

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