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The Debt Crisis: Structural Explanations of Country Performance

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Cited by:

  1. Diwan, Ishac & Verdier, Thierry, 1991. "Distributional aspects of debt adjustment," Policy Research Working Paper Series 657, The World Bank.
  2. Alesina, Alberto & Drazen, Allan, 1991. "Why Are Stabilizations Delayed?," American Economic Review, American Economic Association, vol. 81(5), pages 1170-1188, December.
  3. Minjie Deng, 2024. "Inequality, Taxation, and Sovereign Default Risk," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(2), pages 217-249, April.
  4. Cumby, Robert E. & Pastine, Tuvana, 2001. "Emerging market debt: measuring credit quality and examining relative pricing," Journal of International Money and Finance, Elsevier, vol. 20(5), pages 591-609, October.
  5. Santo Milasi, 2014. "Top Income Shares and Budget Deficits," Rivista di Politica Economica, SIPI Spa, issue 1, pages 383-406, January-M.
  6. Alesina, Alberto & Perotti, Roberto, 1996. "Income distribution, political instability, and investment," European Economic Review, Elsevier, vol. 40(6), pages 1203-1228, June.
  7. Lestano & Jacobs, Jan & Kuper, Gerard H., 2003. "Indicators of financial crises do work! : an early-warning system for six Asian countries," CCSO Working Papers 200313, University of Groningen, CCSO Centre for Economic Research.
  8. Berg, Andrew & Ostry, Jonathan D. & Zettelmeyer, Jeromin, 2012. "What makes growth sustained?," Journal of Development Economics, Elsevier, vol. 98(2), pages 149-166.
  9. repec:dau:papers:123456789/11721 is not listed on IDEAS
  10. Menbere Workie Tiruneh, 2004. "An Empirical Investigation Into the Determinants of External Indebtedness," Prague Economic Papers, Prague University of Economics and Business, vol. 2004(3), pages 261-277.
  11. Josef ZweimüLler, 2000. "Inequality, Redistribution, and Economic Growth," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 27(1), pages 1-20, March.
  12. Alejandro Guerson, 2006. "Fiscal Policy for Good: Reducing Macroeconomic Volatility in Uruguay," EcoMod2006 272100035, EcoMod.
  13. Galariotis, Emilios C. & Makrichoriti, Panagiota & Spyrou, Spyros, 2016. "Sovereign CDS spread determinants and spill-over effects during financial crisis: A panel VAR approach," Journal of Financial Stability, Elsevier, vol. 26(C), pages 62-77.
  14. Eva‐Maria Kalteier & Peter N. Posch, 2013. "Sovereign asset values and implications for the credit market," Review of Financial Economics, John Wiley & Sons, vol. 22(2), pages 53-60, April.
  15. Mita Bhattacharya & John Inekwe, 2021. "Convergence in Sovereign Debt Defaults: Quantifying the Roles of Institutions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(3), pages 792-811, June.
  16. Abdul Waheed, 2017. "Determinants of External Debt: A Panel Data Analysis for Oil and Gas Exporting and Importing Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 234-240.
  17. Lavigne, Robert, 2011. "The political and institutional determinants of fiscal adjustment: Entering and exiting fiscal distress," European Journal of Political Economy, Elsevier, vol. 27(1), pages 17-35, March.
  18. Woo, Jaejoon, 2003. "Social polarization, industrialization, and fiscal instability: theory and evidence," Journal of Development Economics, Elsevier, vol. 72(1), pages 223-252, October.
  19. Alesina, Alberto & Tabellini, Guido, 1989. "External debt, capital flight and political risk," Journal of International Economics, Elsevier, vol. 27(3-4), pages 199-220, November.
  20. Sudeshna Ghosh Banerjee & Michael C. Munger, 2004. "Move to markets? An empirical analysis of privatization in developing countries," Journal of International Development, John Wiley & Sons, Ltd., vol. 16(2), pages 213-240.
  21. Sawada, Yasuyuki, 2001. "Secondary market efficiency for LDC bank loans and international private lending, 1985-1993," Journal of International Money and Finance, Elsevier, vol. 20(4), pages 549-562, August.
  22. Funkhouser, Edward, 1997. "Labor market adjustment to political conflict Changes in the labor market in El Salvador during the 1980s," Journal of Development Economics, Elsevier, vol. 52(1), pages 31-64, February.
  23. Derek Hung Chiat Chen, 2003. "Intertemporal excess burden, bequest motives, and the budget deficit," Policy Research Working Paper Series 3086, The World Bank.
  24. repec:dgr:rugccs:200313 is not listed on IDEAS
  25. Goswami , Gour Gobinda & Hossain, Mohammad Mashnun, 2013. "From Judgmental Projection to Time Series Forecast: Does it Alter the Debt Sustainability Analysis of Bangladesh?," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 36(3), pages 1-41, September.
  26. Kaminsky, Graciela L. & Pereira, Alfredo, 1996. "The debt crisis: lessons of the 1980s for the 1990s," Journal of Development Economics, Elsevier, vol. 50(1), pages 1-24, June.
  27. Gelos, R. Gaston & Sahay, Ratna & Sandleris, Guido, 2011. "Sovereign borrowing by developing countries: What determines market access?," Journal of International Economics, Elsevier, vol. 83(2), pages 243-254, March.
  28. Alberto Alesina & Dani Rodrik, 1994. "Distributive Politics and Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 109(2), pages 465-490.
  29. Keefer, Philip & Knack, Stephen, 2002. "Polarization, Politics and Property Rights: Links between Inequality and Growth," Public Choice, Springer, vol. 111(1-2), pages 127-154, March.
  30. Fotios V. Mitsakis, 2014. "The Impact of Economic Crisis in Greece: Key Facts and an Overview of the Banking Sector," Business and Economic Research, Macrothink Institute, vol. 4(1), pages 248-265, June.
  31. Andreasen, Eugenia & Sandleris, Guido & Van der Ghote, Alejandro, 2019. "The political economy of sovereign defaults," Journal of Monetary Economics, Elsevier, vol. 104(C), pages 23-36.
  32. Mr. Alejandro D Guerson & Mr. Giovanni Melina, 2011. "Public Debt Targeting An Application to the Caribbean," IMF Working Papers 2011/203, International Monetary Fund.
  33. Philip Keefer & Stephen Knack, 2008. "Social Capital, Social Norms and the New Institutional Economics," Springer Books, in: Claude Ménard & Mary M. Shirley (ed.), Handbook of New Institutional Economics, chapter 27, pages 701-725, Springer.
  34. Sebastian Edwards, 1993. "The Political Economy of Infaliton and Stabilization in Developing Countries," NBER Working Papers 4319, National Bureau of Economic Research, Inc.
  35. Alain de Crombrugghe & Barbara Fakin, 1995. "Soviet Union, Russia, Budget System, Economic Transition," CASE Network Studies and Analyses 0045, CASE-Center for Social and Economic Research.
  36. Etebong PC, 2018. "Demography in Nigeria: Problems and Prospects," Biostatistics and Biometrics Open Access Journal, Juniper Publishers Inc., vol. 5(1), pages 25-30, February.
  37. Ms. Chikako Oka, 2003. "Anticipating Arrears to the IMF Early Warning Systems," IMF Working Papers 2003/018, International Monetary Fund.
  38. Shen, Ling, 2013. "How does wealth distribution affect firm's incentive to innovate better quality goods?," Economic Modelling, Elsevier, vol. 32(C), pages 516-523.
  39. López-Espinosa, Germán & Moreno, Antonio & Rubia, Antonio & Valderrama, Laura, 2017. "Sovereign tail risk," Journal of International Money and Finance, Elsevier, vol. 79(C), pages 174-188.
  40. Bresser-Pereira, Luiz Carlos, 2000. "After structuralism, a development alternative for Latin America," Textos para discussão 99, FGV EESP - Escola de Economia de São Paulo, Fundação Getulio Vargas (Brazil).
  41. Andrew G. Berg & Jonathan D. Ostry, 2017. "Inequality and Unsustainable Growth: Two Sides of the Same Coin?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(4), pages 792-815, November.
  42. Alexander M. Petersen & Boris Podobnik & Davor Horvatic & H. Eugene Stanley, 2010. "Scale invariant properties of public debt growth," Papers 1002.2491, arXiv.org.
  43. Ozler, Sule & Huizinga, Harry, 1991. "How factors in creditor countries affect secondary market prices for developing country debt," Policy Research Working Paper Series 622, The World Bank.
  44. Abel L. Costa Fernandes & Paulo R. Mota, 2013. "The Euro Zone Peripheral Countries’ Sovereign Debt Crisis: Also a Case of Non-Mature Democracies?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(3), pages 291-310, May.
  45. Robert Lavigne, 2006. "The Institutional and Political Determinants of Fiscal Adjustment," Staff Working Papers 06-1, Bank of Canada.
  46. Francis A. Longstaff & Jun Pan & Lasse H. Pedersen & Kenneth J. Singleton, 2011. "How Sovereign Is Sovereign Credit Risk?," American Economic Journal: Macroeconomics, American Economic Association, vol. 3(2), pages 75-103, April.
  47. Cukierman, Alex & Edwards, Sebastian & Tabellini, Guido, 1992. "Seigniorage and Political Instability," American Economic Review, American Economic Association, vol. 82(3), pages 537-555, June.
  48. Ratha, Dilip & De, Prabal K. & Mohapatra, Sanket, 2011. "Shadow Sovereign Ratings for Unrated Developing Countries," World Development, Elsevier, vol. 39(3), pages 295-307, March.
  49. Miles, William, 1999. "Securitization, liquidity, and the Brady plan," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 423-442.
  50. Joshua Aizenman & Ricardo Hausmann, 1994. "Why is Inflation Skewed? A Debt and Volatility Story," NBER Working Papers 4837, National Bureau of Economic Research, Inc.
  51. Mohamed Fenira, 2014. "Democracy: A Determinant Factor in Reducing Inflation," International Journal of Economics and Financial Issues, Econjournals, vol. 4(2), pages 363-375.
  52. Cem Karayalçin & Kathryn McCollister, 2005. "Income Distribution, Sovereign Debt, And Public Investment," Economics and Politics, Wiley Blackwell, vol. 17(3), pages 351-365, November.
  53. Foued Chihi & Michel Normandin, 2008. "External and Budget Deficits in Developing Countries," Cahiers de recherche 0819, CIRPEE.
  54. Aart Kraay & Vikram Nehru, 2006. "When Is External Debt Sustainable?," The World Bank Economic Review, World Bank, vol. 20(3), pages 341-365.
  55. Abel L. Costa Fernandes & Paulo R. Mota, 2012. "The Present Sovereign Debt Crisis Of The Euro Zone Peripheral Countries: A Case Of Non-Mature Democracies And Less Developed Economies," FEP Working Papers 458, Universidade do Porto, Faculdade de Economia do Porto.
  56. Chihi, Foued & Normandin, Michel, 2013. "External and budget deficits in some developing countries," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 77-98.
  57. Woo, Jaejoon, 2011. "Growth, income distribution, and fiscal policy volatility," Journal of Development Economics, Elsevier, vol. 96(2), pages 289-313, November.
  58. Michael Bruno, 1993. "Inflation and Growth in an Integrated Approach," NBER Working Papers 4422, National Bureau of Economic Research, Inc.
  59. Ahmet Faruk Aysan, 2007. "Exchange Rates, Stabilisation Policy and Redistribution of Income," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(3), pages 267-298, July.
  60. Yong Kyun Kim, 2017. "Inequality and Sovereign Default under Democracy," Journal of Economics and Financial Analysis, Tripal Publishing House, vol. 1(1), pages 81-115.
  61. Pastor, Manuel Jr. & Conroy, Michael E., 1995. "Distributional implications of macroeconomic policy: Theory and applications to El Salvador," World Development, Elsevier, vol. 23(12), pages 2117-2131, December.
  62. Giordano, Raffaela & Tommasino, Pietro, 2011. "What determines debt intolerance? The role of political and monetary institutions," European Journal of Political Economy, Elsevier, vol. 27(3), pages 471-484, September.
  63. Marchesi, Silvia, 2003. "Adoption of an IMF programme and debt rescheduling. An empirical analysis," Journal of Development Economics, Elsevier, vol. 70(2), pages 403-423, April.
  64. Ozler, Sule & Rodrik, Dani, 1992. "External shocks, politics and private investment : Some theory and empirical evidence," Journal of Development Economics, Elsevier, vol. 39(1), pages 141-162, July.
  65. Norman S. Fieleke, 1988. "International payments imbalances in heavily indebted developing countries," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 32, pages 58-102.
  66. Manuel Pastor Jr. & Gary A. Dymski, 1990. "Debt Crisis and Class Conflict in Latin America," Review of Radical Political Economics, Union for Radical Political Economics, vol. 22(1), pages 155-178, March.
  67. Graham Bird & Nicholas Snowden, 1997. "From banks to bonds: a problem resolved? A perspective from the LDC debt literature," Journal of International Development, John Wiley & Sons, Ltd., vol. 9(2), pages 207-220.
  68. Felipe Larraín & Rodrigo Vergara, 1992. "Distribución del Ingreso, Inversión y Crecimiento," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 29(87), pages 207-228.
  69. Yaseen Ghulam, 2025. "Examination and predictions of risk tolerance levels and thresholds in sovereigns’ external debt defaults," International Economics and Economic Policy, Springer, vol. 22(2), pages 1-52, May.
  70. Siebert, Horst, 1989. "Güterwirtschaftliche Anpassungsprozesse zur Lösung der Verschuldungsfrage," Kiel Working Papers 349, Kiel Institute for the World Economy (IfW Kiel).
  71. Sotiris Staikouras, 2004. "A chronicle of the banking and currency crises," Applied Economics Letters, Taylor & Francis Journals, vol. 11(14), pages 873-878.
  72. repec:phd:pjdevt:jpd_1993_vol__xx_no__2-b is not listed on IDEAS
  73. Peat, Maurice & Svec, Jiri & Wang, Jue, 2015. "The effects of fiscal opacity on sovereign credit spreads," Emerging Markets Review, Elsevier, vol. 24(C), pages 34-45.
  74. Lina Maddah & Hassan Sherry & Hussein Zeaiter, 2024. "Economic and Political Determinants of Sovereign Default and IMF Credit Use: A Robustness Assessment Post 2010," Economies, MDPI, vol. 12(7), pages 1-36, July.
  75. Kuhanathan Ano Sujithan & Sanvi Avouyi-Dovi, 2013. "The links between some European financial factors and the BRICS credit default swap spreads," Post-Print hal-01511898, HAL.
  76. Muhanji, Stella & Ojah, Kalu, 2016. "Governance infrastructure and indebtedness of African countries: Do regional blocs matter?," The North American Journal of Economics and Finance, Elsevier, vol. 36(C), pages 123-153.
  77. Sule Ozler & Harry Huizinga, 1992. "Bank Exposure, Capital and Secondary Market Discounts on the Developing Country Debt," NBER Working Papers 3961, National Bureau of Economic Research, Inc.
  78. Jelena Laušev & Aleksandar Stojanović & Nataša Todorović, 2011. "Determinants Of Debt Rescheduling In Eastern European Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 56(188), pages 7-31, January –.
  79. Zeaiter, Hussein & El-Khalil, Raed, 2016. "Extreme bounds of sovereign defaults: Evidence from the MENA region," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 391-410.
  80. Chakrabarti, Avik & Zeaiter, Hussein, 2014. "The determinants of sovereign default: A sensitivity analysis," International Review of Economics & Finance, Elsevier, vol. 33(C), pages 300-318.
  81. Moreno Badia, Marialuz & Medas, Paulo & Gupta, Pranav & Xiang, Yuan, 2022. "Debt is not free," Journal of International Money and Finance, Elsevier, vol. 127(C).
  82. Aysan, Ahmet Faruk, 2006. "The Role of Distribution of the Income Shares of Individuals in Tradables and Nontradables on Exchange Rate Fluctuations and Delay of Stabilizations," MPRA Paper 5485, University Library of Munich, Germany.
  83. Hylton Hollander & Roy Havemann & Daan Steenkamp, 2024. "The macroeconomics of establishing a basic income grant in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 92(1), pages 57-68, March.
  84. Zeaiter, Hussein Zeaiter, 2013. "Sovereign Debt Defaults: Evidence using Extreme bounds Analysis," Working Papers 32/2013, Universidade Portucalense, Centro de Investigação em Gestão e Economia (CIGE).
  85. Oliveira, Gesner, 1991. "Resistance to Implementing IMF Stabilization Plans: Evidence from a Cross-Country Study," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 11(1), April.
  86. Ang, Andrew & Longstaff, Francis A., 2013. "Systemic sovereign credit risk: Lessons from the U.S. and Europe," Journal of Monetary Economics, Elsevier, vol. 60(5), pages 493-510.
  87. Yener Altunbaş & John Thornton, 2017. "Why Do Countries Adopt Fiscal Rules?," Manchester School, University of Manchester, vol. 85(1), pages 65-87, January.
  88. Eden, Maya & Kraay, Aart & Qian, Rong, 2012. "Sovereign defaults and expropriations : empirical regularities," Policy Research Working Paper Series 6218, The World Bank.
  89. Evan Lau & Ahmad Zubaidi Baharumshah & Soon, 2013. "The behavior of external debt in Asian countries: evidence based on panel unit root tests," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 14(sup1), pages 377-394, June.
  90. Jaejoon Woo, 2020. "Inequality, redistribution, and growth: new evidence on the trade-off between equality and efficiency," Empirical Economics, Springer, vol. 58(6), pages 2667-2707, June.
  91. Evrensel, Ayse Y., 2004. "Lending to developing countries revisited: changing nature of lenders and payment problems," Economic Systems, Elsevier, vol. 28(3), pages 235-256, September.
  92. Tran-Xuan, Monica, 2023. "Optimal redistributive policy in debt constrained economies," Journal of International Economics, Elsevier, vol. 144(C).
  93. Woo, Jaejoon, 2003. "Economic, political, and institutional determinants of public deficits," Journal of Public Economics, Elsevier, vol. 87(3-4), pages 387-426, March.
  94. Raquel Fernandez & Sule Ozler, 1991. "Debt Concentration and Secondary Markets Prices: A Theoretical and Empirical Analysis," NBER Working Papers 3654, National Bureau of Economic Research, Inc.
  95. Dungey, Mardi & Jacobs, Jan & Lestano, 2010. "Financial crises in Asia: concordance by asset market or country?," Working Papers 10575, University of Tasmania, Tasmanian School of Business and Economics, revised 01 Nov 2010.
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  103. Sergio Espuelas, 2015. "The inequality trap. A comparative analysis of social spending between 1880 and 1930," Economic History Review, Economic History Society, vol. 68(2), pages 683-706, May.
  104. Pan, Wei-Fong & Wang, Xinjie & Xiao, Yaqing & Xu, Weike & Zhang, Jinfan, 2024. "The effect of economic and political uncertainty on sovereign CDS spreads," International Review of Economics & Finance, Elsevier, vol. 89(PA), pages 143-155.
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  108. Han, Ki C. & Lee, Suk Hun & Suk, David Y., 2003. "Mexican peso crisis and its spillover effects to emerging market debt," Emerging Markets Review, Elsevier, vol. 4(3), pages 310-326, September.
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  111. Carlos ALBERTO CINQUETTI & Ricardo GONÇALVES SILVA, 2008. "Delays In Stabilization Or In Reforms? The Debt Crisis," The Developing Economies, Institute of Developing Economies, vol. 46(3), pages 290-314, September.
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