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:
Online Access:Click for online access

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100 1 |a Alichi, Ali,  |e author.  |1 https://id.oclc.org/worldcat/entity/E39PCjvcMBFXy8YhRvHwdxKVvd 
245 1 2 |a A model of sovereign debt in democracies /  |c prepared by Ali Alichi. 
260 |a Washington, D.C. :  |b International Monetary Fund, African Dept.,  |c 2008. 
264 4 |c ©2008 
300 |a 1 online resource (34 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF working paper,  |x 2227-8885 ;  |v WP/08/152 
500 |a "June 2008." 
504 |a Includes bibliographical references (pages 23-25). 
520 3 |a 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 generations. An old generation with little concern for its country's access to capital markets can force a default on debt if it has the majority of voters. On the other hand, if the younger generation is more numerous, it can force repayment of previously defaulted debt. Other voter heterogeneities, such as in income, can generate similar results. 
588 0 |a Print version record. 
506 |3 Use copy  |f Restrictions unspecified  |2 star  |5 MiAaHDL 
533 |a Electronic reproduction.  |b [Place of publication not identified]:  |c HathiTrust Digital Library.  |d 2024.  |5 MiAaHDL 
538 |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.  |u http://purl.oclc.org/DLF/benchrepro0212  |5 MiAaHDL 
583 1 |a digitized  |c 2024.  |h HathiTrust Digital Library  |l committed to preserve  |2 pda  |5 MiAaHDL 
650 0 |a Debts, Public  |x Econometric models. 
650 0 |a Capital market  |x Econometric models. 
650 7 |a Capital market  |x Econometric models  |2 fast 
650 7 |a Debts, Public  |x Econometric models  |2 fast 
650 7 |a Auslandsverschuldung.  |2 stw 
650 7 |a Auslandsschuldendienst.  |2 stw 
650 7 |a Demokratie.  |2 stw 
710 2 |a International Monetary Fund.  |b African Department. 
758 |i has work:  |a A model of sovereign debt in democracies (Text)  |1 https://id.oclc.org/worldcat/entity/E39PCGhC8hYdKK78m4GBcKR9Xd  |4 https://id.oclc.org/worldcat/ontology/hasWork 
776 0 8 |i Print version:  |a Alichi, Ali.  |t Model of sovereign debt in democracies.  |d Washington, D.C. : International Monetary Fund, African Dept., 2008  |w (OCoLC)248692213 
830 0 |a IMF working paper ;  |v WP/08/152. 
856 4 0 |u https://ebookcentral.proquest.com/lib/holycrosscollege-ebooks/detail.action?docID=1605821  |y Click for online access 
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