International lending, sovereign debt and joint liability : an economic theory model for amending the treaty of Lisbon
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Patrick Rey & Joseph E. Stiglitz, 1993. "Short-Term Contracts as a Monitoring Device," NBER Working Papers 4514, National Bureau of Economic Research, Inc.
- Hatlebakk, Magnus, 2002.
"A new and robust subgame perfect equilibrium in a model of triadic power relations,"
Journal of Development Economics, Elsevier, vol. 68(1), pages 225-232, June.
- Hatlebakk, M., 2000. "A New and Robust Subgame Perfect Equilibrium in a Model of Triadic Power Relations," Norway; Department of Economics, University of Bergen 2400, Department of Economics, University of Bergen.
- Juan J. Cruces & Christoph Trebesch, 2013.
"Sovereign Defaults: The Price of Haircuts,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 5(3), pages 85-117, July.
- Juan J. Cruces & Christoph Trebesch, 2011. "Sovereign Defaults: The Price of Haircuts," CESifo Working Paper Series 3604, CESifo.
- Cruces, Juan J. & Trebesch, Christoph, 2013. "Sovereign defaults: The price of haircuts," Munich Reprints in Economics 20036, University of Munich, Department of Economics.
- Ghatak, Maitreesh & Guinnane, Timothy W., 2003.
"Erratum to "The economics of lending with joint liability: theory and practice" [J. Devel. Econ. 60 (1999) 195-228,"
Journal of Development Economics, Elsevier, vol. 70(1), pages 261-262, February.
- Ghatak, Maitreesh & Guinnane, Timothy W., 1999. "The economics of lending with joint liability: theory and practice," Journal of Development Economics, Elsevier, vol. 60(1), pages 195-228, October.
- Ghatak, Maitreesh & Guinnane, Timothy W., 1999.
"The economics of lending with joint liability: theory and practice,"
Journal of Development Economics, Elsevier, vol. 60(1), pages 195-228, October.
- Ghatak, M. & Guinnane, T.W., 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Papers 791, Yale - Economic Growth Center.
- Maitreesh Ghatak & Timothy W. Guinnane, 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Working Papers 791, Economic Growth Center, Yale University.
- Maitreesh Ghatak & Timothy W. Guinnane, 1998. "The Economics of Lending with Joint Liability: Theory and Practice," Discussion Papers 98-16, University of Copenhagen. Department of Economics.
- Kennedy, David & Stiglitz, Joseph E. (ed.), 2013. "Law and Economics with Chinese Characteristics: Institutions for Promoting Development in the Twenty-First Century," OUP Catalogue, Oxford University Press, number 9780199698554, Decembrie.
- Basu, Kaushik & Morita, Hodaka, 2006.
"International credit and welfare: A paradoxical theorem and its policy implications,"
European Economic Review, Elsevier, vol. 50(6), pages 1507-1528, August.
- Basu, Kaushik & Morita, Hodaka, 2005. "International Credit and Welfare: A Paradoxical Theorem and Its Policy Implications," Working Papers 05-04, Cornell University, Center for Analytic Economics.
- Paul De Grauwe, 2014.
"The Governance of a Fragile Eurozone,"
World Scientific Book Chapters, in: Exchange Rates and Global Financial Policies, chapter 12, pages 297-320,
World Scientific Publishing Co. Pte. Ltd..
- Paul De Grauwe, 2012. "The Governance of a Fragile Eurozone," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 45(3), pages 255-268, September.
- De Grauwe, Paul, 2011. "Governance of a Fragile Eurozone," CEPS Papers 5523, Centre for European Policy Studies.
- De Grauwe, Paul, 2012. "The Governance of a Fragile Eurozone," Walter Adolf Jöhr Lecture 2012, University of St. Gallen, School of Economics and Political Science, Institute of Economics (FGN-HSG).
- Espen Villanger, 2003. "Company interests and foreign aid policy: Playing donors out against each other," CMI Working Papers WP 2003:5, CMI (Chr. Michelsen Institute), Bergen, Norway.
- Ghatak, Maitreesh, 2002.
"Erratum to "The economics of lending with joint liability: theory and practice" [J. Devel. Econ. 60 (1999) 195-228,"
Journal of Development Economics, Elsevier, vol. 69(1), pages 305-306, October.
- Ghatak, Maitreesh & Guinnane, Timothy W., 1999. "The economics of lending with joint liability: theory and practice," Journal of Development Economics, Elsevier, vol. 60(1), pages 195-228, October.
- Patrick Bolton & Olivier Jeanne, 2011.
"Sovereign Default Risk and Bank Fragility in Financially Integrated Economies,"
IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(2), pages 162-194, June.
- Bolton, Patrick & Jeanne, Olivier, 2011. "Sovereign Default Risk and Bank Fragility in Financially Integrated Economies," CEPR Discussion Papers 8358, C.E.P.R. Discussion Papers.
- Patrick Bolton & Olivier Jeanne, 2011. "Sovereign Default Risk and Bank Fragility in Financially Integrated Economies," NBER Working Papers 16899, National Bureau of Economic Research, Inc.
- Robert J. Shiller, 2012. "Finance and the Good Society," Economics Books, Princeton University Press, edition 1, number 9652.
- Basu, Kaushik, 2003.
"Prelude to Political Economy: A Study of the Social and Political Foundations of Economics,"
OUP Catalogue,
Oxford University Press, number 9780199261857, Decembrie.
- Basu, Kaushik, 2000. "Prelude to Political Economy: A Study of the Social and Political Foundations of Economics," OUP Catalogue, Oxford University Press, number 9780198296713, Decembrie.
- Mr. Ashoka Mody & Mr. Stijn Claessens & Mr. Shahin Vallée, 2012.
"Paths to Eurobonds,"
IMF Working Papers
2012/172, International Monetary Fund.
- Shahin Vallée, 2012. "Paths to eurobonds," Bruegel Working Papers 733, Bruegel.
- Bruce C. Greenwald & Joseph E. Stiglitz, 1986. "Externalities in Economies with Imperfect Information and Incomplete Markets," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(2), pages 229-264.
- Joseph Stiglitz & Jungyoll Yun, 2013. "Optimal Provision of Loans and Insurance Against Unemployment From A Lifetime Perspective," NBER Working Papers 19064, National Bureau of Economic Research, Inc.
- Tirole, Jean, 2012. "Country Solidarity, Private Sector Involvement and the Contagion of Sovereign Crises," IDEI Working Papers 761, Institut d'Économie Industrielle (IDEI), Toulouse, revised Sep 2012.
- Arnott, Richard & Stiglitz, Joseph E, 1991. "Moral Hazard and Nonmarket Institutions: Dysfunctional Crowding Out or Peer Monitoring?," American Economic Review, American Economic Association, vol. 81(1), pages 179-190, March.
- Stiglitz, Joseph E., 2013. "Selected Works of Joseph E. Stiglitz: Volume II: Information and Economic Analysis: Applications to Capital, Labor, and Product Markets," OUP Catalogue, Oxford University Press, number 9780199533718, Decembrie.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Foley-Fisher, Nathan & McLaughlin, Eoin, 2016.
"Sovereign debt guarantees and default: Lessons from the UK and Ireland, 1920–1938,"
European Economic Review, Elsevier, vol. 87(C), pages 272-286.
- Nathan Foley-Fisher & Eoin McLaughlin, 2015. "Sovereign debt guarantees and default: Lessons from the UK and Ireland, 1920-1938," Discussion Papers in Environment and Development Economics 2015-11, University of St. Andrews, School of Geography and Sustainable Development.
- Schäfer Hans-Bernd & Bigus Jochen, 2016. "Consequences of Different Eurobond Proposals," Review of Law & Economics, De Gruyter, vol. 12(3), pages 523-553, November.
- Basu, Kaushik, 2014. "Fiscal policy as an instrument of investment and growth," Policy Research Working Paper Series 6850, The World Bank.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Basu Kaushik, 2016. "The Economics and Law of Sovereign Debt and Risk Sharing: Some Lessons from the Eurozone Crisis," Review of Law & Economics, De Gruyter, vol. 12(3), pages 495-506, November.
- Petrick, Martin, 2004.
"Governing Structural Change And Externalities In Agriculture: Toward A Normative Institutional Economics Of Rural Development,"
IAMO Discussion Papers
14878, Institute of Agricultural Development in Transition Economies (IAMO).
- Petrick, Martin, 2004. "Governing structural change and externalities in agriculture: toward a normative institutional economics of rural development," IAMO Discussion Papers 73, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
- Conning, Jonathan & Udry, Christopher, 2007.
"Rural Financial Markets in Developing Countries,"
Handbook of Agricultural Economics, in: Robert Evenson & Prabhu Pingali (ed.), Handbook of Agricultural Economics, edition 1, volume 3, chapter 56, pages 2857-2908,
Elsevier.
- Jonathan Conning & Christopher Udry, 2005. "Rural Financial Markets in Developing Countries," Working Papers 914, Economic Growth Center, Yale University.
- Conning, Jonathan & Udry, Christopher R., 2005. "Rural Financial Markets in Developing Countries," Center Discussion Papers 28458, Yale University, Economic Growth Center.
- Francis Kramarz & Oskar Nordström Skans, 2014.
"When Strong Ties are Strong: Networks and Youth Labour Market Entry,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 81(3), pages 1164-1200.
- Kramarz, Francis & Nordström Skans, Oskar, 2011. "When strong ties are strong Networks and youth labor market entry," Working Paper Series, Center for Labor Studies 2011:18, Uppsala University, Department of Economics.
- Kramarz, Francis & Nordström Skans, Oskar, 2013. "When Strong Ties are Strong: Networks and Youth Labor Market Entry," CEPR Discussion Papers 9620, C.E.P.R. Discussion Papers.
- Nordström Skans, Oskar & Kramarz, Francis, 2011. "When strong ties are strong – networks and youth labor market entry," Working Paper Series 2011:18, IFAU - Institute for Evaluation of Labour Market and Education Policy.
- Carli, Francesco & Uras, Burak R., 2017.
"Joint-liability with endogenously asymmetric group loan contracts,"
Journal of Development Economics, Elsevier, vol. 127(C), pages 72-90.
- Carli, Francesco & Uras, Burak R., 2017. "Joint-liability with endogenously asymmetric group loan contracts," Other publications TiSEM c8325e9d-7206-47bd-932e-7, Tilburg University, School of Economics and Management.
- Madestam, Andreas, 2014.
"Informal finance: A theory of moneylenders,"
Journal of Development Economics, Elsevier, vol. 107(C), pages 157-174.
- Andreas Madestam, 2008. "Informal Finance: A Theory of Moneylenders," Working Papers 347, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Andreas Madestam, 2009. "Informal Finance: A Theory of Moneylenders," Working Papers 2009.69, Fondazione Eni Enrico Mattei.
- Madestam, Andreas, 2009. "Informal Finance: A Theory of Moneylenders," Institutions and Markets Papers 54288, Fondazione Eni Enrico Mattei (FEEM).
- Karlan, Dean & Gine, Xavier, 2009.
"Group versus Individual Liability: Long Term Evidence from Philippine Microcredit Lending Groups,"
Working Papers
61, Yale University, Department of Economics.
- Xavier Giné & Dean Karlan, 2009. "Group versus Individual Liability: Long Term Evidence from Philippine Microcredit Lending Groups," Working Papers 970, Economic Growth Center, Yale University.
- Gine, Xavier & Karlan, Dean S., 2009. "Group versus Individual Liability: Long Term Evidence from Philippine Microcredit Lending Groups," Center Discussion Papers 50951, Yale University, Economic Growth Center.
- Gine, Xavier & Karlan, Dean, 2009. "Group versus Individual Liability: Long Term Evidence from Philippine Microcredit Lending Groups," Center Discussion Papers 229136, Yale University, Economic Growth Center.
- Dan Anderberg & Karlijn Marsink, 2019. "The introduction of formal insurance and its effect on redistribution," CESifo Working Paper Series 7596, CESifo.
- Biener, Christian & Eling, Martin & Landmann, Andreas & Pradhan, Shailee, 2018.
"Can group incentives alleviate moral hazard? The role of pro-social preferences,"
European Economic Review, Elsevier, vol. 101(C), pages 230-249.
- Biener, Christian & Eling, Martin & Pradhan, Shailee, 2016. "Can Group Incentives Alleviate Moral Hazard? The Role of Pro-Social Preferences," Working Papers on Finance 1610, University of St. Gallen, School of Finance, revised Nov 2016.
- Daniel J. Clarke, 2011. "Reinsuring the Poor: Group Microinsurance Design and Costly State Verification," Economics Series Working Papers 573, University of Oxford, Department of Economics.
- Jonathan Conning, 2005. "Monitoring by Peers or by Delegates? Joint Liability Loans and Moral Hazard," Economics Working Paper Archive at Hunter College 407, Hunter College Department of Economics.
- Giné, Xavier & Karlan, Dean S., 2014. "Group versus individual liability: Short and long term evidence from Philippine microcredit lending groups," Journal of Development Economics, Elsevier, vol. 107(C), pages 65-83.
- Chi-kan Richard Hung, 2006. "Rules and Actions: Determinants of Peer Group and Staff Actions in Group-Based Microcredit Programs in the United States," Economic Development Quarterly, , vol. 20(1), pages 75-96, February.
- Thorsten Beck & Patrick Behr, 2017. "Individual versus Village Lending: Evidence from Montenegro," Review of Development Economics, Wiley Blackwell, vol. 21(4), pages 67-87, November.
- van Rijn, Jordan, 2018. "The Effect of Membership Expansion on Credit Union Risk and Returns," Staff Paper Series 588, University of Wisconsin, Agricultural and Applied Economics.
- de Quidt, Jonathan & Fetzer, Thiemo & Ghatak, Maitreesh, 2018.
"Commercialization and the decline of joint liability microcredit,"
Journal of Development Economics, Elsevier, vol. 134(C), pages 209-225.
- de Quidty, Jonathan & Fetzer, Thiemo & Ghatak, Maitreesh, 2016. "Commercialization and the Decline of Joint Liability Microcredit," Economic Research Papers 269575, University of Warwick - Department of Economics.
- Fetzer, Thiemo, 2016. "Commercialization and the Decline of Joint Liability Microcredit," The Warwick Economics Research Paper Series (TWERPS) 1119, University of Warwick, Department of Economics.
- Quidt, Jonathan de & Fetzer, Thiemo & Ghatak, Maitreesh, 2016. "Commercialization and the Decline of Joint Liability Microcredit," CAGE Online Working Paper Series 272, Competitive Advantage in the Global Economy (CAGE).
- Pies, Ingo & Hielscher, Stefan & Beckmann, Markus, 2008. "Corporate citizenship as stakeholder management: An ordonomic approach to business ethics," Discussion Papers 2008-4, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
- Bauchet, Jonathan & Chakravarty, Sugato & Hunter, Brian, 2018. "Separating the wheat from the chaff: Signaling in microfinance loans," World Development, Elsevier, vol. 106(C), pages 40-50.
- F. Calidoni-Lundberg & A. Fedele, 2006.
"Technology replaces culture in microcredit markets: the case of Italian MAGs,"
Economics Department Working Papers
2006-EP11, Department of Economics, Parma University (Italy).
- Calidoni-Lundberg, Federica & Fedele, Alessandro, 2007. "Technology Replaces Culture in Microcredit Markets: the Case of Italian MAGs," AICCON Working Papers 46-2007, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
- Diego A. B. Marconatto & Luciano Barin-Cruz & Eugenio Pedrozo, 2016. "Lending Groups and Different Social Capitals in Developed and Developing Countries," RAC - Revista de Administração Contemporânea (Journal of Contemporary Administration), ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração, vol. 20(6), pages 651-672.
More about this item
Keywords
Debt Markets; Access to Finance; Banks&Banking Reform; Bankruptcy and Resolution of Financial Distress; Economic Theory&Research;All these keywords.
NEP fields
This paper has been announced in the following NEP Reports:- NEP-EEC-2013-08-10 (European Economics)
- NEP-OPM-2013-08-10 (Open Economy Macroeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:6555. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.