Foreign long term government loans of Serbia 1862-1914
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.
|Date of creation:||Mar 2009|
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|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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- 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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