A model of sovereign debt in democracies

A model of sovereign debt in democracies / prepared by Ali Alichi.

This paper develops and empirically tests a political economy model of sovereign debt. The main incentive for repaying sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose default regardless of its consequences for future generatio...

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Bibliographic Details
Main Author: Alichi, Ali (Author)
Corporate Author: International Monetary Fund. African Department
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, African Dept., 2008.
©2008
Series:IMF working paper ; WP/08/152.
Subjects:
Debts, Public > Econometric models.
Capital market > Econometric models.
Capital market > Econometric models
Debts, Public > Econometric models
Auslandsverschuldung.
Auslandsschuldendienst.
Demokratie.
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