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Dissertations / Theses on the topic 'Sovereign debt'

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Published: 4 June 2021
Last updated: 25 July 2025

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1

Menegus, Virginia <1992&gt. "SOVEREIGN DEBT: THE UNIFICATION OF ITALIAN SOVEREIGN DEBT." Master's Degree Thesis, Università Ca' Foscari Venezia, 2016. http://hdl.handle.net/10579/8785.

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2

Wang, Zilong. "Essays on sovereign debt." Thesis, University of Nottingham, 2016. http://eprints.nottingham.ac.uk/32670/.

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This thesis analyzes various issues of sovereign debt from both theoretical and empirical perspectives. The first chapter investigates how global and country-specific factors like US interest rates, global risk aversion and the country-specific macroeconomic climate drive the dynamics of sovereign spreads in emerging countries. I develop a theoretical framework that pinpoints the determination of the equilibrium debt level, probability of default and sovereign spread, and test empirical implications derived from the predictions of the model. The chapter then employs a Structural Vector Autoreg
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3

Lanau, Grau Sergi. "Essays on sovereign debt markets." Doctoral thesis, Universitat Pompeu Fabra, 2008. http://hdl.handle.net/10803/7380.

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Aquesta tesis anal.litza les Clausules d'Acció Col.lectiva i les Clàusules de Precedència quan: 1) el repagament és endogen i depèn d'un esforç de lobbying dels creditors. 2) el litigi és purament redistributiu. Hi ha una externalitat positiva del esforç que interactua amb la distribució dels actius i les clàusules contractuals. Els litigis individuals no són desitjables socialment perquè redueixen l'incentiu al esforç. Les Clàusules d'Acció Col.lectiva bloquegen els litigis i maximitzen el repagament. La introducció de Clàusules de Precedència modifica els incentius al esforç. Aquest efecte p
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4

Bayliffe, David Michael. "Analytic modelling for sovereign debt." Thesis, Imperial College London, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.248464.

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5

Schumacher, Julian. "Enforcement in sovereign debt markets." Doctoral thesis, Humboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät, 2015. http://dx.doi.org/10.18452/17388.

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Die Arbeit befasst sich mit ökonomischen Effekten der rechtlichen Durchsetzung von Staatsschulden. Die Literatur nimmt weitgehend an, dass diese größtenteils irrelevant sind. Die Dissertation präsentiert neu erstellte Datensätze über Anlegerklagen in den USA und UK, und verbindet diese mit Finanzmarktdaten. Die zentralen Ergebnisse sind: (1) Staatsschuldenkrisen sind zunehmend begleitet von Anlegerklagen, wenn auch die Zahl gering ist. Klagen sind wahrscheinlicher wenn Regierungen hohe Verluste auf ihre Gläubiger abwälzen. Sie können zudem signifikante Kosten durch die Versperrung des Finanzma
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6

Lucchetta, Alberto <1995&gt. "Pricing EU Sovereign Debt Risk." Master's Degree Thesis, Università Ca' Foscari Venezia, 2019. http://hdl.handle.net/10579/15939.

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The aim of the analysis is to investigate if bond risk is priced. The idea to examine this topic rises by the interest to analyze in depth the movements of the bond financial market. The general framework reveals an increase of the use of fixed income securities and, consequently, an increase of the use of bonds among investors during last years. Credit institutions started to issue a large multiplicity of financial instruments; an example are perpetual bonds that were not frequently used in the past. Moreover, the increase of government bonds issued was drastic: during the period of the cris
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7

Thakkar, Nachiket Jayeshkumar. "Essays On Sovereign Debt, Governance And Inequality." OpenSIUC, 2019. https://opensiuc.lib.siu.edu/dissertations/1714.

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In my first chapter I follow the methodology put forth by Bohn(1998), the market-based sustainability method to measure whether the sovereign debt is sustainable or not. I work with a panel of 125 countries for 26 years and along with incorporate different institutions ratings by ICRG’s political risk ratings. In my analysis I find out that the debt on average is sustainable for countries up to certain extent and thus giving us an inverted U shape debt-exports curve. I use country exports to find out if the debt is sustainable or not. I also find that better institutions do give an edge to cou
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8

Masuyama, Kazuyuki. "Sovereign Debt Crisis: Conceptual and Empirical Analysis." Thesis, University of Canterbury. Department of Economics and Finance, 2014. http://hdl.handle.net/10092/9202.

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This paper investigates the determinants of sovereign debt crises by using cross-country data from 1977 to 2010. In particular, I focus on the structure of sovereign debt by analysing the debt composition (domestic versus external), maturity structure (short-term versus long-term), composition type (bank loans versus bond) and currency denomination (domestic currency versus foreign currency) of debts. I also assess whether the previous history of banking and currency crises affect the likelihood of a sovereign debt crisis. The results suggest that both the structures of debt and the past histo
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9

De, Marco Filippo. "Banks, Sovereign Debt and Capital Requirements." Thesis, Boston College, 2015. http://hdl.handle.net/2345/bc-ir:104230.

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Thesis advisor: Fabio Schiantarelli<br>In the aftermath of the Great Recession of 2007-2009, Europe has been grappling with both a debt and a banking crisis, which caused a prolonged recession and on-going stagnation in some countries of the Eurozone. The distinctive feature of the European crisis, compared to the global recession that originated in the United States, is that it emerged as sovereign debt crisis and later evolved into a banking crisis, finally affecting the real economy. The banking and sovereign crises are heavily intertwined because of the interplay between banks and sovereig
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10

MOREIRA, ALAN SEIXAS BELLO. "INFORMATIONAL EFFECTS IN SOVEREIGN DEBT ISSUES." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2006. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=9052@1.

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COORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR<br>FUNDAÇÃO DE APOIO À PESQUISA DO ESTADO DO RIO DE JANEIRO<br>Neste trabalho, estudamos o forte movimento do risco país em momentos de emissões de dívida externa. Nossos resultados indicam que emissões de curto prazo em momentos de alta assimetria informacional reduzem o risco país em pelo menos 12 pontos-base, enquanto que emissões de longo prazo, nestes momentos, aumentam-no em torno de 90 pontos, movimentos que são mais pronunciados nas taxas de longo prazo da estrutura a termo do spread do que nas de curto prazo. Est
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11

Pereira, Gonçalo André Nunes. "Modelling sovereign debt with Lévy Processes." Master's thesis, Instituto Superior de Economia e Gestão, 2014. http://hdl.handle.net/10400.5/7611.

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Mestrado em Ciências Actuariais<br>Propomos modelizar o risco de crédito soberano de cinco países da zona Euro (Portugal, Irlanda, Itália, Grécia e Espanha) seguindo uma abordagem estrutural de primeira passagem em que o movimento Browniano geométrico é substituído por um processo de Lévy regido apenas por uma componente de saltos. Deste modo, introduzimos incrementos assimétricos e leptocúrticos e a possibilidade de incumprimento instantâneo, removendo assim algumas das principais limitações do modelo Black-Scholes. Calculamos a probabilidade de sobrevivência como preço de uma opção barreira
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12

Mukherjee, Mudra. "Essays in Sovereign Debt and Default." The Ohio State University, 2015. http://rave.ohiolink.edu/etdc/view?acc_num=osu1440430623.

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13

boujlil, rhada. "Financial Regulation, Banking, and Sovereign Debt." ScholarWorks@UNO, 2019. https://scholarworks.uno.edu/td/2588.

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The dissertation consists of two essays. In the first essay we study the efficiency of banks during the period of (2000-2017) that witnessed a fierce financial crisis in the light of the regulatory acts enacted in response to the crisis (Basel III 2010). We investigate the combined impact of compliance with Tier 1 and Tier 2 capital, common equity Tier 1, and leverage requirements on bank operating efficiency. We measure operational efficiency of 68 insured, U.S. federally and state-chartered, commercial banks, with consolidated assets of $15 billion or more, over a sampling period of 18 years
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14

SOSIO, DE ROSA GIORGIA. "THE NEW ERA OF SOVEREIGN DEBT RESTRUCTURING." Doctoral thesis, Università degli Studi di Milano, 2014. http://hdl.handle.net/2434/232397.

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This thesis analyses the new developments in sovereign debt restrcutrings implemented in the restructurings that took place in the past decades, highlighting new solutions to old issues and looking at the still oustadning problems. It focuses specifically on the contractual techniques implemented in order to develop an orderly sovereign debt restructuring framework.
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15

Lehasa, Mecha. "Determinants of sovereign borrowing choices in Sub-Saharan Africa." Master's thesis, Faculty of Commerce, 2020. http://hdl.handle.net/11427/33759.

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There is a growing and legitimate concern about sovereign debt increasing to unsustainable levels among the Sub-Saharan African (SSA) countries. Understanding the determinants of external debt to these countries influenced the direction of this study. The existing literature that was examined shed light mostly on the qualitative determinants of sovereign borrowing. In addition to existing empirical literature, there is a complimentary need to examine further the quantitative determinants of external debt. The researcher seeks to establish the extent to which the cost of borrowing (proxied by i
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16

Bilby, Taylor Rose. "The European Sovereign Debt Crisis and the Future of European Economic Sovereignty." Thesis, The University of Arizona, 2013. http://hdl.handle.net/10150/297495.

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The European Union was created to pursue peace on a continent that had been ravaged by war twice in a single generation. It has evolved to include 27 countries, 17 of whom operate under a single currency: the euro. Over the past five years, the euro zone has fluctuated between crises caused by irresponsible financial management. The resulting extensive sovereign debt in a number of European countries is aggravated by the European Union’s weak central structure. In this thesis paper, I begin with the history of the European Union and move into the creation of the Euro and the causes of the Euro
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17

Tzima, Spyridoula. "Sovereign risk in the Eurozone debt crisis." Thesis, Brunel University, 2017. http://bura.brunel.ac.uk/handle/2438/16791.

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Concerns about the state of public finances in the main advanced economies have increased as a result of the global financial and economic crisis that started in late 2007 - 2008. The fiscal solvency of several euro area peripheral countries has been put under the spotlight of the market participants who started to believe that a sovereign default was likely to happen in an advanced economy member of the euro area. This thesis seeks to investigate the sovereign risk in the euro area countries during the period before, during and after the crisis by focusing on the sovereign bond and credit def
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18

Masamba, Magalie L. "An African Perspective on Reforming Sovereign Debt Restructuring of Privately Held Debt." Thesis, University of Pretoria, 2020. http://hdl.handle.net/2263/78639.

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In the past decades, financial crises have recast the spotlight on sovereign debt restructuring (SoDR). Despite decades of discussion on how to reform SoDR, it still raises complex legal tensions. Among these tensions is the current lack of a mechanism to administer SoDR and the fact that the current SoDR regime is fragmented and leads to suboptimal and unfair results. This thesis critically assesses these tensions, with a focus on the international reform of the restructuring of privately held sovereign bonds. In making its contribution to the discourse on SoDR, this study seeks to bridge the
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19

Sulstarova, Astrit. "Sovereign debt dynamics in a stochastic environment /." Genève : Inst. Univ. de Hautes Etudes Internat, 2008. http://www.gbv.de/dms/zbw/569461138.pdf.

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20

Abdel-Jawad, Malek. "Applications of optimization to sovereign debt issuance." Thesis, Brunel University, 2013. http://bura.brunel.ac.uk/handle/2438/7625.

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This thesis investigates different issues related to the issuance of debt by sovereign bodies such as governments, under uncertainty about the future interest rates. Several dynamic models of interest rates are presented, along with extensive numerical experiments for calibration of models and comparison of performance on real financial market data. The main contribution of the thesis is the construction and demonstration of a stochastic optimisation model for debt issuance under interest rate uncertainty. When the uncertainty is modelled using a model from a certain class of single factor int
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21

Verdial, Nuno Miguel Cruz Guimarães. "Sovereign debt crisis in Portugal and Spain." Master's thesis, Instituto Superior de Economia e Gestão, 2019. http://hdl.handle.net/10400.5/18791.

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Mestrado em Economia Monetária e Financeira<br>Os efeitos da crise financeira de 2007-2008 e da crise das dividas soberanas Europeias espalharam-se pelo sistema financeiro, os bancos e os estados soberanos. Estas crises expuseram as economias mais vulneráveis e causaram mudanças profundas na maneira como o risco é avaliado, incluindo o risco das dividas soberanas, aumentando o spread dos juros dos títulos de divida soberana. Esta dissertação analisa estes eventos, focando-se no caso Português e Espanhol depois de abordar a situação Europeia. A mudança do preço do risco soberano foi averiguada
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22

Kiiashko, Sergii. "Essays on Maturity Structure of Sovereign Debt." Thesis, Princeton University, 2018. http://pqdtopen.proquest.com/#viewpdf?dispub=10824697.

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<p>In the first chapter, I develop a tractable model to study the optimal debt maturity structure and fiscal policy in an environment with incomplete markets, lack of commitment, and opportunity to default by the government. The default on public debt is endogenous and the real interest rate reflects the default risk and the marginal rate of substitution between present and future consumption. I show that the maturity is used to resolve the time-consistency problem: The present government can incentivize future governments to stick to an ex ante optimal sequence of fiscal policies and interest
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23

Prosperi, Lorenzo. "Essays on Sovereign Debt and the Macroeconomy." Thesis, Toulouse 1, 2019. http://www.theses.fr/2019TOU10016/document.

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Dans cette thèse, nous présentons trois articles relatifs à la dette souveraine. Dans les deux premiers chapitres, nous étudions l’importance des frictions politiques pour expliquer les niveaux élevés de dette souveraine par rapport au PIB observés dans les données. Dans le troisième chapitre, nous évaluons les effets de la réglementation bancaire sur les expositions souveraines sur l’activité macroéconomique. Dans le premier chapitre, nous explorons le canal par lequel les frictions politiques génèrent des incitations à épargner ou à emprunter dans un modèle de consommation avec un engagement
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24

ERCE, DOMINGUEZ Aitor. "Sovereign debt crises : on causes and remedies." Doctoral thesis, European University Institute, 2007. http://hdl.handle.net/1814/7006.

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Defence date: 9 February 2007<br>Examining Board: Prof. Fernando Broner (Universitat Pompeu Fabra) ; Prof. Giancarlo Corsetti (EUI) ; Prof. Karl Schlag (EUI) ; Prof. Xavier Vives, (IESE Buciness School Barcelona)<br>PDF of thesis uploaded from the Library digital archive of EUI PhD theses<br>no abstract available
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25

Loureiro, Luís Maria Ferreira Pessoa. "Price effects on primary auctions of portuguese sovereign debt." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/18503.

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Mestrado em Finanças<br>No contexto da discussão acerca da dívida pública dos países Europeus e da forma como estes buscam financiamento, alguns autores defendem a ideia de que o mercado secundário exerce uma pressão sobre o mercado primário perto da emissão de dívida pública primária, com o objectivo de exercer uma vantagem competitiva. A literatura acerca deste tema indica que o mercado secundário parece conter o comportamento do mercado primário antes de um leilão de dívida pública. O que significa que as yields no mercado secundário tendem a aumentar antes do leilão de dívida pública primá
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26

Brutti, Filippo. "Essays on Sovereign Debt Crises and Macroeconomic Volatility." Doctoral thesis, Universitat Pompeu Fabra, 2010. http://hdl.handle.net/10803/7412.

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Income growth is much more volatile in developing countries than in developed ones. One argument is that weak legal and political institutions exacerbate macroeconomic shocks precipitating the economy into widespread crises. The first chapter of my thesis focuses on sovereign debt crises and discusses how government default in bad times can trigger a liquidity crisis within the economy even in absence of classic foreign penalties. The second chapter takes a complementary perspective and emphasizes the role of sectoral specialization as a source of the higher volatility of emerging markets, muc
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Bianco, Giuseppe. "Restructuring Sovereign Debt : Private Creditors and International Law." Thesis, Paris 1, 2017. http://www.theses.fr/2017PA01D075.

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La thèse examine le cadre juridique de la restructuration de la dette souveraine vis-à-vis des créanciers privés et le rôle joué par le droit international public. La problématique est la suivante : Quel est le rôle actuel et potentiel du droit international public dans la restructuration de dettes souveraines ? Le cadre juridique actuel est fragmenté, avec une multitude d'acteurs et de pratiques. Le contexte politique influence le processus plus que des coutumes ou des principes généraux. La jurisprudence révèle les défis pour les cours nationales et les tribunaux internationaux. L'approche c
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Henningsen, David M. "The Origins of the Italian Sovereign Debt Crisis." Scholarship @ Claremont, 2012. http://scholarship.claremont.edu/cmc_theses/379.

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Over the past decade, the European Union has been characterized by an explosion of expenditure, insufficient revenue, high deficits and a lack of budget discipline. Financial markets in Europe are currently dealing with enormous government debts, poor government balance sheets and a weakening banking system. The purpose of this paper is to investigate the origins of the current Euro-crisis and specifically identify the extent to which it will affect the nation of Italy going forward. To understand Italy's stance amid the Euro-crisis, we proceed as follows: First, a historical background sectio
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Mahabir, Carlos Michael. "Sovereign debt rescheduling and legal protection of risk." Thesis, McGill University, 1987. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=63983.

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30

Basu, Suman S. (Suman Sambha). "Essays on sovereign debt and international capital flows." Thesis, Massachusetts Institute of Technology, 2009. http://hdl.handle.net/1721.1/49711.

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Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Economics, 2009.<br>Includes bibliographical references.<br>This dissertation is a collection of three essays on public and private borrowing on international capital markets, with a focus on optimal policy for the government and international financial institutions. Chapter 1 focuses on sovereign debt and default. Recent sovereign default episodes have been associated with substantial output costs, and the sovereign should take into account that any default decision may exacerbate such costs. I construct a two-period model where
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Alessandro, Mauro. "Three essays on sovereign debt and financial markets." Thesis, Massachusetts Institute of Technology, 2011. http://hdl.handle.net/1721.1/69475.

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Thesis (Ph. D.)--Massachusetts Institute of Technology, Dept. of Economics, 2011.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references.<br>This dissertation analyzes different aspects of the actions of borrowing and repaying debts by governments in both domestic and international financial markets. In Chapter 1, which is co-authored with Guido Sandleris and Alejandro Van der Ghote, we use a unique dataset on sovereign bond issuances and syndicated bank loans to study the duration and determinants of the periods of exclusion from international credit markets that usua
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Pimentel, Diogo Januário. "Determinants of sovereign debt ratings in the OECD." Master's thesis, Instituto Superior de Economia e Gestão, 2021. http://hdl.handle.net/10400.5/22797.

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Mestrado Bolonha em Economia Monetária e Financeira<br>This dissertation studies the determinants of sovereign debt rating in the OECD from the two main rating agencies, Moody’s and S&P, between 1995-2019. The econometric model applied was the linear and ordered models to explain the explanatory variables. The results show that GDP per capita, Investment, General Public Debt, Unemployment, Government Revenue, and Governance may have a steady impact on sovereign ratings.<br>info:eu-repo/semantics/publishedVersion
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Adama, Adams Sorekuong Yakubu. "Essays on institutions, firm funding and sovereign debt." Thesis, University of Manchester, 2017. https://www.research.manchester.ac.uk/portal/en/theses/essays-on-institutions-firm-funding-and-sovereign-debt(0516466e-8937-4a1a-aca2-f9064b961b07).html.

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This thesis explores the effects of institutions on macroeconomic performance. It does so in two main chapters, a summary of each of which is given below. In the first main chapter of the thesis, the interactions between government spending, government borrowing, political corruption and political turnover were examined. Incorporating these factors in a sovereign default model, we show how sovereign default decisions and business cycle fluctuations are affected by the level of corruption. In particular, we show that when there is turnover, corruption can generate higher risks of default and hi
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Bi, Ran. "Essays on sovereign debt structure, default and renegotiation." College Park, Md. : University of Maryland, 2008. http://hdl.handle.net/1903/8024.

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Thesis (Ph. D.) -- University of Maryland, College Park, 2008.<br>Thesis research directed by: Dept. of Economics. Title from t.p. of PDF. Includes bibliographical references. Published by UMI Dissertation Services, Ann Arbor, Mich. Also available in paper.
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Prein, Timm Marc [Verfasser]. "Essays on Sovereign Debt Crises / Timm Marc Prein." Konstanz : KOPS Universität Konstanz, 2020. http://d-nb.info/1215500270/34.

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Antonakakis, Nikolaos. "Sovereign Debt and Economic Growth Revisited: The Role of (Non-)Sustainable Debt Thresholds." WU Vienna University of Economics and Business, 2014. http://epub.wu.ac.at/4321/1/wp187.pdf.

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Contributing to the contentious debate on the relationship between sovereign debt and economic growth, I examine the role of theory-driven (non-)sustainable debt-ratios in combination with debt-ratio thresholds on economic growth. Based on both dynamic and non-dynamic panel data analyses in the euro area (EA) 12 countries over the period 1970-2013, I find that non-sustainable debt-ratios above and below the 60% threshold, have a detrimental effect on short-run economic growth, while sustainable debt-ratios below the 90% threshold exert a positive influence on short-run economic growth. In t
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Wang, Xuefeng. "The European Sovereign Debt Crisis : An Overview of the PIIGS." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Economics, Finance and Statistics, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-18466.

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The purpose of this thesis is to examine the effects of macroeconomic  indicators on the government debt of Portugal, Italy, Ireland, Greece and Spain (PIIGS), based on the data from 1990 to 2010 and employed a panel data model. The research finds that the macroeconomc conditions of the PIIGS are all deteriorated to some extent, and these deteriorations lead the accumulation of government debt. The expansionary fiscal policy is an important factor that accounts for the high debt ratio of the PIIGS. On the other hand, the discrepancy between the unified monetary policy and the separated fiscal
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Nolte, Angela. "Essays on sovereign debt in federations : bailout, default and exit." Thesis, University of Edinburgh, 2012. http://hdl.handle.net/1842/7744.

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The thesis analyses the moral hazard problem which arises in political or fiscal federations when member states anticipate being bailed out by the centre in case of financial distress. In particular, I examine whether an orderly default mechanism or deeper fiscal integration within the European Union can alleviate the soft budget constraint phenomenon and provide a solution to the sovereign debt crises engulfing the Eurozone and other parts of the world. The first essay adapts the standard Stackelberg approach of the bailout literature in order to study the effects of bankruptcy procedures on
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Arráiz, Irani. "Essays on sovereign debt default, settlement, and repayment history /." College Park, Md. : University of Maryland, 2006. http://hdl.handle.net/1903/3752.

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Thesis (Ph. D.) -- University of Maryland, College Park, 2006.<br>Thesis research directed by: Economics. Title from t.p. of PDF. Includes bibliographical references. Published by UMI Dissertation Services, Ann Arbor, Mich. Also available in paper.
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Kennedy, Roger Cameron. "Sovereign debt restructuring since 1982 : a practical theoretical interpretation." Thesis, University of Oxford, 1994. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.284237.

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Thampanishvong, Kannika. "Sovereign debt crises : game theoretical and political economy aspects." Thesis, University of Warwick, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.437703.

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42

Gallo, Michele. "Sovereign debt and CRAs: where does the power lie?" Master's thesis, NSBE - UNL, 2012. http://hdl.handle.net/10362/9604.

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A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics<br>This work project analyzes how changes in sovereign debt rating within Europe can affect the stock performance of the event country, and wich are the factors that influence this impact. We found a significant impact made in both positive and negative watchlisting, while upgrades entail a significant downward reaction when they are preceded by watchlist activity. A further analysis of this impact allowed us to identify a surprise effect, compo
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Collette, Stephanie. "Sovereign bonds: odious debts and state succession." Doctoral thesis, Universite Libre de Bruxelles, 2012. http://hdl.handle.net/2013/ULB-DIPOT:oai:dipot.ulb.ac.be:2013/209718.

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Though sovereign debts are often viewed as risk-free assets, some extreme events may lead to the repudiation of these debts. A large literature has been devoted to the motivations of repayment and to the causes of default. The impact of wars, which may lead to the repudiation of sovereign debt, on sovereign bond prices has also been analyzed. However, the impact of other types of seldom occurring but dramatic events, which may lead to the repudiation of debts, on bond prices has been overlooked. My current research aims to analyze three of them: the repudiation of debts because of their allege
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Antonijevic, Aleksandar. "What Factors Influence the Debt Mix of Sovereign States? An Empirical Analysis /." St. Gallen, 2006. http://www.biblio.unisg.ch/org/biblio/edoc.nsf/wwwDisplayIdentifier/04607834001/$FILE/04607834001.pdf.

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45

Pepino, Silvia. "Sovereign risk and financial crisis : the international political economy of the Euro area sovereign debt crisis." Thesis, London School of Economics and Political Science (University of London), 2013. http://etheses.lse.ac.uk/721/.

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For decades, scholars, investors and policymakers treated sovereign default risk as a defining feature of emerging market economies. Recently, sovereign risk has re‐emerged as an empirical issue for advanced economies, raising new questions for academic research. This thesis investigates the link between political economy factors and financial market perceptions of sovereign risk during the Euro area debt crisis, representing one of the timeliest academic analyses of this episode. It combines an innovative international political economy framework applicable to developed democracies with in‐de
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Krey, Katherine Gorter. "Sovereign Debt after Republic of Argentina v. NML Capital: Developing a Framework for Sovereign Default Arbitration." Scholarship @ Claremont, 2017. http://scholarship.claremont.edu/cmc_theses/1648.

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In July 2014, Argentina entered selective default, even as the country remained financially solvent. The default stemmed not from economic woes, but rather from protracted international litigation between Argentina and a group of hedge funds who, for years, refused to negotiate with Argentina over their bond holdings in the wake of the country’s first default in 2001. These holdouts stalled negotiations and locked Argentina out of international credit markets, damaging the country’s economy and financially harming other creditors and Argentinian citizens alike. Argentina ended up in such a dil
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Matelis, Skirmantas. "How do sovereign debt yields respond to credit rating announcements." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Economics, Finance and Statistics, 2012. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-18333.

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The concept of asymmetric information is probably best described by medieval idiom to buy a pig in a poke or to buy a cat in a sack, and is a long standing issue in a market economy. A solution to this predicament, is thought to be an objective third party certifier who would provide true information for the market participants. Credit Rating Agencies (CRAs) by all definitions act as such certifiers within financial markets and have been on the public spotlight for the last years. In both cases, the US subprime mortgage crisis and the EU sovereign debt crisis, the agencies were charged for mis
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Limandibhratha, Steven. "Determinants Of Eurozone Bond Yields During The Sovereign Debt Crisis." Scholarship @ Claremont, 2014. http://scholarship.claremont.edu/cmc_theses/930.

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This paper looks at the determinants of bond yields for a select group of Eurozone countries, during the European sovereign debt crisis. In addition to traditional determinants of spreads, which include credit risk, liquidity risk and international risk aversion, this paper looks at the role of credit rating agencies. The movements of countries’ yields during the debt crisis played an integral role in the resulting bailouts by the European Union. Using expected data published by the European Commission, the results of the model were in line with current literature, with the exception of the ef
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Hühnerbein, Ossip Robert. "Sovereign Debt Contracts and Financial Stability in Emerging Market Economies." Diss., lmu, 2007. http://nbn-resolving.de/urn:nbn:de:bvb:19-73022.

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SODRE, ANTONIO CARLOS DE AZEVEDO. "INFORMATIONAL SPILLOVERS IN THE PRE-1914 LONDON SOVEREIGN DEBT MARKET." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2007. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=10794@1.

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COORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR<br>Nesta pesquisa documenta-se um novo canal de contágio internacional. Estuda-se o mercado de dívida soberana de Londres no período pré-1914, no qual, dada a ausência de agências internacionais de monitoramento e altos custos de coleta de informação, a intermediação financeira representou um papel importante na transmissão de informações aos investidores. A partir da análise de dois eventos de crise financeira - o Funding Loan brasileiro em 1898 e o Funding loan grego em 1893 - mostra-se que os preços de títulos públicos de p
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